ADV 319 Lecture Notes - Lecture 28: Disposable And Discretionary Income, Impression Management, Social Class
Document Summary
Discretionary income: money available after we pay all our bills. Age group spending the most money in the marketplace = 30-55. How we spend varies, based in part on our attitudes towards money. 75,000 = magic income in terms of being comfortable. Tightwads (painful to spend) vs. frugality (prefer to save) Plutonomy: country where a small percentage of people make up the rich. Horizontal (ex: go from nurse to teacher, server to bartender) Influencers of mobility: education, appearance, economic climate, race + gender, age. United states: harder to move up, midwest/southeast = more difficult. Two factors contribute to an (overall) upward income trajectory. College wage premium: gap between people getting a graduate education and people who don"t. Luxury is functional: products that last/have enduring value (high quality) Member of female-headed households have a higher percentage. Social class = determined by income, family background, and occupation. Universal pecking order: relative standing in society.
