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Money management could ease personal spending woes

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By Merilee Dannemann

A recent story from the Washington Post described Black Friday, and all the news coverage of that shopping extravaganza, as a spectacle of the poor performing for the entertainment of the rest of us.
The writer likened Black Friday to “The Hunger Games,” the science fiction movie series. In that story line, the provinces that lost a war are forced to send their best young people to a competition where they are televised as they hunt and kill each other, for the amusement of the pampered dilettantes of the winning country.
The story suggested people of higher income don’t have to bother with the frantic bargain hunting of Black Friday. Only poor people will fight each other for cheap television sets and video games.
None of the news coverage I saw reported how much of that Black Friday shopping was done to purchase necessities, how much was spent for things not really needed, or how much was spent with borrowed money that the borrowers couldn’t afford to pay back.
A few days earlier, the financial website Wallethub reported that New Mexico ranks third highest nationally in the amount of money individuals spend compared to their earnings.


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