Comments on: Why the English are More Frugal than Americans

By: iherb coupon

iherb coupon — Sun, 10 Jan 2010 04:55:13 +0000

In the USA there is just more advertisements everywhere you go. Thats why they consume more than any other nation in the world. thats my theory

By: Wizard Prang

Wizard Prang — Wed, 25 Nov 2009 18:17:33 +0000

As a Brit living in the US, this subject is very dear to my heart.

Not sure I agree with CCC’s comment: There are enough financially-stupid children of financially-astute parents. Upbringing certainly pays a part, but once you are an adult the biggest factors are crowd that you run with and the books that you read.

Fifty years ago debt was regarded as evil; now it is commonplace. I am debt-free except for my mortgage; but I don’t like to admit it – people think I am crazy or showing off.

The simple fact is that Americans are the most marketed-to people in the history of the world; they are suckers for Branding, Marketing and Badge-engineering. Lacking a class system, all they have to impress each other with is their stuff. And they do.

By: Margaret

Margaret — Fri, 20 Nov 2009 13:27:30 +0000

The different mentalities probably also have a huge amount to do with the long-term after effects of WWII. Britain was left with enormous national debt, rationing and austerity for many, many years afterwards. In contrast, the US became very prosperous and entered a boom period, which they were able to build upon for the majority of the rest of the 20th century. The very different recent economic histories of each nation surely have a lot to do with current individual financial habits.

By: Credit Card Chaser

Credit Card Chaser — Fri, 20 Nov 2009 00:44:09 +0000

I think that family upbringing plays much more of a role in ones financial habits than does the general culture that one grew up in. Parents play a key role in teaching children to be financially responsible.

By: Ken

Ken — Thu, 19 Nov 2009 18:00:04 +0000

Interesting point. I think Americans are more free with money than English after reading your post. We as a culture probably took a much harder ‘hit’ when the recession came. We despise having to be patient and wait to buy anything. We are our own enemy.

By: Craig

Craig — Thu, 19 Nov 2009 14:47:11 +0000

I recently went on a trip with a bunch of guys from England and this is dead on. They kept talking about how Americans waste so much money on crap they don’t need. It just seems to be a different mentality out there.

By: Financial Samurai

Financial Samurai — Thu, 19 Nov 2009 14:46:12 +0000

Interesting perspectives! Prudence is a good word for English thought.

In fact, my mentor, who is English gave me many a good financial advice about prudence.

But, I must say, that I think Americans have MORE fun!

By: Kate

Kate — Thu, 19 Nov 2009 12:28:24 +0000

Liked this a lot and Linked to it via my own frugal website.

I am British and what you say is true, we are really rubbish at being ostentatious but I think we like it that way

By: Joe

Joe — Thu, 19 Nov 2009 07:36:15 +0000

Oh, no! You mean even the Brits think the way out of this recession is to eventually get back to daily shopping trips again? Then I suppose we really aren’t that different when it comes to how we view a solution to our financial problems.