The “American Dream” has changed through the generations. First coined after the great depression, the phrase signified the ability to move up social classes to a greater standard of living.
Now, the American Dream has more of a meaning of security rather than prosperity according to a recent story conducted by Ketchum Global Research commissioned by rent to own company Aarons. More than 90 percent of survey respondents equate the American Dream having a good job and owning their own home. “Social Freedom”, the belief for their children having a better life and the ability to save money is right up there with 89%.
Being more practical is becoming the new aspiration as many Americans feel the new norm is being buried in debt and trying to manage a responsible budget. Luxury items such as jewelry are being replaced with technology and furniture as items that fulfill the American Dream for today’s society.
In the end, though, the study revolved around the new expectations that have culminated from different economic circumstances that exist today. The continued difficulty of owning a home and being debt free has pushed those two to the top of what Americans desire.
While owning a home and secure family finances is always at the core of the American Dream, past generations thought those were a given. With today’s financial environment, home ownership and financial stability are now what Americans dream of.