Posted by Lending Club :: October 9, 2007 @ 10:28 am

"There are three types of people in the world."

My sociologist teacher said this to me once. I was expecting the standard joke: those who can count and those who can't. Oh man, that joke makes me laugh so much, especially the 312,412th time I've heard it.

"The Haves, the Have-Nots, and the Have-Not-Paid-For-What-You-Haves."

It took me a second to figure out what he meant. The class burst into laughter, but to my personal finance self, a single tear of understanding slid down my face. So deep.

As I wrote earlier, the rise of consumerism has caused people to begin living beyond their means. Why? A lot of it has to do with our culture and our media.

Take a look at this recent post on Get Rich Slowly. The author writes about an ad that he finds disgusting---it shows a laptop with the words "Good Parents Buy." This image is followed by "Bad Parents Don't."

Is that really what being a parent is about? You have to buy the love of your kids? Advertisements like this contribute to the culture of consumerism and overspending: if you have to buy things to prove your love to your kid, does that mean that you love your kid more than your neighbors if you spend more? Even if your kids don't need anything?

Regardless of which group you fall into, there is an obvious disconnect between the media and the actual needs of consumers. If you follow exactly what the media says, you should buy every product you can find in an advertisement. We here at Lending Club remind you that when you think for yourself, you will realize that being a good parent is about spending time, not money, on your children.