We spend because we can
Last Friday was Black Friday, one of the days with the most sales of the year. On this day, Americans, and now also many Hispanics, make purchases while taking advantage of the large discounts that many stores offer.
This is only the beginning of the end of the year, which culminates with the celebration of December 31st.
“Going shopping” is part of the American culture, but the fact is that everyone in the world likes to buy things; whether it’s because they need them, because they like it, or because they want to get something for someone else. Buying is a “natural” pleasure and the reason why people buy more in this country is obviously because they have enough to do it.
Once we satisfy the basic needs of food, shelter and clothing, what is leftover can be used for going shopping, which is not very normal in developing countries.
Based on data on Wikipedia, last year the average gross income in the United States was around 53,000 dollars per year; while in Mexico it was about 12,730, that is, almost one fourth of what people earn here. That’s how those that arrive into this country can also buy at a higher level than they could in their home countries.
But for many Hispanics, not all of the disposable income goes to shopping; a large amount of people send money to their family members, which is why in some countries like Mexico the sending of remittances has become one of the main sources of income in dollars. This happens little by little and is not seen but it’s the way in which the families of many migrants are sustained. The math is very simple, someone who earns at least some 1,500 dollars per month and who can manage to live with other family members and friends in order to spend only 1,000, can send 500 per month, which would be about 12,000 per year (almost the average gross income), which in pesos would come out to 240,000 and is not too shabby for the Mexican economy.
Congratulations to all that work hard, buy what they want, and still manage to sustain their families abroad.
