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Spendthrift consumers

The story that appeared in Saturday?s newspaper on how Bermuda consumers are suckers for expensive items that will improve their images has sparked a good deal of discussion, and no doubt a fair amount of hiding of expensive handbags and the like.

That may be because there was a good deal of truth in it. It may be a product of prosperity, but Bermuda residents tend to demand the best of whatever it is that they are buying, whether it is clothes or medical care.

This has not always been the case. Before tourism boomed, Bermudians had to watch their pennies closely, whether they were from Front Street or Court Street.

One story that has long circulated tells of how a boy was staying in the home of an elderly relation, and when called to breakfast, was asked if would like bacon or egg.

The seeming inability of Bermuda residents to conserve tank water today, and to think nothing of calling for several truckloads when their tank runs dry, is another example. Past generations of Bermudians would be turning in their graves.

There is a serious message in all of this. By all means, if people want to have the best and are willing to pay for it, then they have the right to spend their money how they wish.

But acquiring things of real and lasting value, like a home, retirement savings, a college education and the like, takes saving and sacrifice, and too often one has the sense that people expect to have the surface benefits of wealth now ? and the house, education and comfortable retirement as well.

Life just isn?t like that, and it isn?t the Government?s responsibility to make it so.

That is not to say that life in Bermuda isn?t difficult. There may be more money washing around our shores than almost anywhere else on earth, but the cost of living is among the world?s highest as well.

Many people have to work extraordinarily hard just to make ends meet, and in doing so, they sacrifice the simple pleasures of life, like spending time with their families.

That?s all the more reason why, when people have a little money in their pockets, they should put it in savings, or towards a down payment, rather than splurging on an expensive trip, a fancy car or a new and expensive wardrobe.

But those who do decide to splash out should not complain about the other things that are missing in their lives.