After reading sections of the books by Professor Warren, it is evident that people have not changed the manner in which they manage their personal or family finances. There is no significant change in their spending patterns; in general, people still spend money on the same goods and services and save money for the same reasons. The common basic goods that people allocate their money to include food, shelter, clothing and motor vehicles (Warren, 70). Financial security and investment ventures are still the main motivations for saving. Consequently, the government did not have to initiate major alterations in its laws and policies as regards the finances of its citizens. However, I have noted from the reading that the people of the present generation are turning out to be increasingly materialistic and dependent on money (Warren, 88). The author of the book “2 Income Trap” points out that a financial disaster can elicit other mishaps (Warren, 88). For instance, a couple that experiences financial setbacks such as job loss, loss of health insurance or exposure to high medical bills, is likely to get a divorce (Warren, 88). This perception has even been backed up by sociologists who observe that couples tend to have more conflicts when they experience financial problems and are hence more likely to split up (Warren, 88). Though minor, the entry of womenfolk in the workforce also caused a change in family finances (Warren, 88). As women increasingly join the employment industry, more families are being transformed by the additional income from their working mothers.
