I saw a meme on Facebook the other day that read as such: "Black Friday: Because only in America do we wait in line and trample others for sale items one day after giving thanks for what we already have." This is spot on. Isn't it ironic how many of the same people who give a heartfelt prayer at the dinner table on Thanksgiving are the ones jostling with other shoppers for bargains at the mall that night or the next day? It's nice to see a growing number of retail establishments closing for Thanksgiving so that their employees can spend the holiday with their families. But that list remains far too short as many stores still look to cash in on the frenzy by getting Black Friday underway on Thursday night. Many shoppers are ready to throw money at virtually anything that has "SALE" or "50% OFF" slapped on the sales tag. To be fair, some of the deals to be had really are phenomenal. But cutting Thanksgiving night short to schlep to the stor...

I recently read an article stating that 62% of Americans have less than $1,000 in savings. What's worse, 21% of them don't even have a savings account! Supposedly, Americans have been saving more since the global recession, but the stat above doesn't seem to bear that out. One of the most discussed topics on this forum is consumer behavior, as my background is in psychology and marketing. It's imperative that Americans -- and people throughout the world, for that matter -- practice saving responsibly. The best way to save money is by living below one's means. Spending hundreds of dollars on clothing and food every week doesn't help your pocketbook in any way,  especially if you have the tendency to run up your credit card bills and pay late. I'm not saying you can't treat yourself to a good meal here and there, but spending -- just like eating amd drinking -- should be done in moderation. As I tell many of my cash-strapped friends, sometimes ...

How many times have you gone into a store and seen signs that say something along these lines: "Supplies running fast!" "Buy them before they're gone!" "Only 5 left!" "Sale ends soon!" Now, be honest: How many times did you go through with the purchase because you believed what the signage said to be true? Yep, even I've fallen for it myself, and I actually majored in marketing and minored in psychology! In marketing and consumer psychology, it's what we call the scarcity principle : Consumers attach more value to things that are few in quantity and thus feel more compelled to purchase such items. But this isn't limited to brick-and-mortar stores -- companies also use this marketing tactic online. Take Amazon.com. At some point, you're bound to come across an item whose description includes "Only 3 left in stock. Order soon." Companies seldom run out of inventory, unless we're talking about much...