Do you encourage unnecessary spending?During my childhood my father used to always tell me that we should always save minimum 10% of our income. We should not take any loans. He always used to advice me that unnecessary expenditure shouldn't be incurred. I think I got accustomed to that type of living only. But these the concept is changed. No one will hesitate to take loans. For every purchase we have different avenues to get loans. The concept of saving is almost last. No one will hesitate to purchase anything they want whatever may be the cost. If we try to explain the concept of saving to young people these days many of them will laugh at us.
What are the views of the members on this issue. Do you encourage unnecessary expenditure.