Lowest-income families spend 40% of their money on what economists label luxuries

It turns out that all Americans, regardless of income, spend a large percentage of their income on what economists categorize as luxuries. People who make the most money spend the biggest chunk of their incomes on luxury goods, but even the poorest households spend a significant amount on luxuries, according to an analysis released recently by Deutsche Bank Research. The wealthiest families (the top fifth of earners) spend around 65% of their incomes on luxury goods and 35% on necessities, according to the study, which looked at spending habits between 1984 and 2014. Middle-income households weren’t far behind: They spend 50% on luxuries and 50% on necessities. Even the lowest-income families

I Am a Millennial Who Just Went to Kmart for the First Time Ever and Couldn't Believe This Place

I, likely because I'm a millennial, had never been to a Sears Holdings Corp.-owned (SHLD) Kmart before. Until today. On Monday, July 3, I took a trip to a Kmart store in Brick, N.J., and I was amazed, for several reasons, that its doors were still open. The store was dingy, dirty and disorganized, far worse than the Sears store I recently visited that I thought was a horror show. Plus, the location was poorly stocked, despite the fact that I arrived around 9 a.m., only one hour after it opened. But, Monday's trip gave me yet another insight into why its parent, Sears, announced on Friday it is closing an additional 43 stores on top of the 265 locations, across both Sears and Kmart banners, it

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  2 Arizona Kmarts to close this year, among the first in the state

  The Arizona Republic
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  43 more Sears and Kmart stores are closing. Here's the list:

  WTAE

Why getting a 10-year-old car is a savvy move

Want to make sure your car won’t wreck your budget? Here’s a chart that might help. In a corner of Reddit devoted to visual representations of data, users are buzzing about a graphic that looks at different approaches to car ownership. The graphic, shown below, indicates that the cheapest thing to do is to buy a 10-year-old used car, keep it for five years, and then repeat. The most expensive approach is buy a brand new car, keep it for five years, and then do that again. Is it ever cheaper to go with a brand new car rather than a used car? Yes. The graphic indicates that if you buy new and keep that ride for 20 years, that will cost you less than buying a three-year-old used vehicle that you