Why Is It So Hard to Say 'I Can't Afford That'?
LatestThe first sentence in this recent Wall Street Journal piece sounds sad and irrational:
Many people would rather struggle to pay off a large credit-card bill than utter the phrase “I can’t afford it.”
But it’s true: Many people spend even when they know they should not, believing they will catch up on debt or figure it out somehow. Make it work. As Carl Sword, a New York psychoanalyst, tells WSJ, “There’s a lot of peer pressure in our society to spend.” Not to mention the way we’re inundated with ad campaigns, videos, TV shows and movies filled with alluring products and aspirational lifestyles.