Quote from: FanatMonet on April 28, 2020, 11:53:43 PM

The main problem of the modern financial system is that money is inherently not backed up by anything other than the honest word of the emitter that they are worth. Previously, all currencies were tied to the gold standard, and it was very good, you could always get gold for them.

That may be a part of it but it's probably the coupling of money into the digital realm more so too...
I remember spending money as a kid and not wanting to part with notes or coins, but if it was on a card it wasn't money anymore, it wasnt physically leaving me...

Quote from: exstasie on Today at 12:36:00 AM

When I was working a wage job for years, I noticed no matter how much money I made, my spending would always gravitate towards my whole paycheck unless I consciously implemented some rule like 50/30/20. There's something about a regular paycheck that really feeds into that mentality. Paycheck stability and big credit lines have definitely helped create this "no savings, spend everything, pay later" culture.

I'm sure newspapers were posting a stat that only 25% had more than £100 in their savings... Which is a bit of a worrying statistic (especially given current events).

I also think I'd have to find a way to dynamically move funds as soon as they come in so I don't have the flexibility to increase spending on useless items - while maintaining a healthy level of useless/non essential items...

And yeah the buy now pay later culture is a problem if people are paying interest/not negotiating rates (I noticed a salesman say they turn away people that want to pay with cash and not credit because the agencies pay them so much to sell even no interest fixed term credit - which huge interest rates on default)..