As with many diseases, affluenza is contagious. Cultural conditioning through media and advertising promote an image of "the good life" that is associated with possessions. Instead of hard work and frugality, possessions such as fancy cars, McMansions and designer clothes were now the symbols of success. It was therefore not enough to be wealthy, one had to flaunt it as well. Meanwhile, those who did not have wealth could pretend that they

History of Credit Cards The first issuers of credit cards were post-World-War I-era merchants whose customers began arriving from more distant locales by the first automobiles that were widely available to ordinary Americans (Stephy, 2009). Originally, they were intended to allow customers to make payments on unplanned purchases without having to return to their homes to retrieve their cash or their checkbooks (Stephy, 2009). In issuing credit cards, department stores

Therefore, its important that every individual takes step to maintain a good credit history. How to build a good credit history Once the importance of credit is understood, the next step is to take measures to build or maintain a good credit score and history. It is not rocket science to have a good credit history. Some amount of restraint and basic financial discipline is all that is required to get

39). Credit card fraud, though, is not playground for banks for numerous reasons, including: (a) online payment fraud erodes consumer confidence and trust in their brands; for many consumers, a breach of security prompts a knee-jerk reaction of closing accounts and moving to another financial institution; and - the liability for fraudulent transactions shifts to the issuing financial institution with costs ranging between $20 and $30 to process each

Cell Phone as an Electronic Wallet Rapid advances in technology in recent decades have brought about a dramatic change in the way people work, transact and communicate. Yet, it is widely believed that there is still ample scope for technology to make life even more convenient and efficient. For instance, the cell phone is already showing the promise of functioning as an electronic wallet. It is the purpose of this

Money Management Basic financial literacy is sorely lacking in today's America, and the results affect us all. For some, basic financial literacy is a personal issue, and it is that, but it is also a social issue because high debt levels affect everybody when they contribute to economic volatility. Malcolm (2013) notes that the standards of education in money management tend to be low, which leads people with incoherent savings plans.