I’ve been doing a lot of reading lately about the current financial situation our country faces. The Debt Ceiling, our rising national debt, unemployment rates, and more all are very important issues right now. As Americans today, we didn’t create these problems… they were made LONG ago by generations before us… and it seems they will remain next generation to handle as well. This 30 minute video explains more.
So what does this mean to you?
Can you solve the nation’s debt problem? Can I solve the nation’s debt problem?
Unfortunately the problem is much bigger that we think and you and I cannot do a thing on our own to solve the nation’s fiscal problems.
There needs to be a EXTREMELY STRONG MESSAGE that will reach all Americans:
You are a Part of the Solution
Here’s the thing… our Government, just like most American’s today, have maxed out their credit cards. The only way the problem will be solved is by either increasing income and cut spending. Our Government will eventually have to do BOTH.
What does this mean to you?
You will see prices rise, you will see taxes rise, you will see interest rates on loans rise. But you will not see your income rise in the same rate. You will feel the SQUEEZE of the Government correcting a problem it should have corrected long ago.
It’s coming folks.. if not for us… for our children.
I don’t say this to be all doom and gloom. I’m telling you this so that you can do something about it now for you and your children.
You MUST do the following:
- Get out of ALL debt, including your mortgage. Pay it all off and OWN it all.
- Live on CASH. Debit cards are fine, Credit cards are not.
- SAVE in your emergency fund to protect you from job loss.
- Invest your money to build personal wealth
I realize that this is a simplistic view of what needs to be done.. but I can tell you that only 4% of Americans are actually doing this. The other 96% are spending way beyond their means with credit.
If every American got themselves out of debt.. and started saving again, the nation might have a chance. Unfortunately that is only wishful thinking on my part. The only thing I can do right now is to tell you how to get there yourself. The government is going to solve it’s fiscal problem whether you were part of the solution or not. If you don’t start getting yourself out of debt right now…you will eventually live a substandard life because you’ll be owing 75% of your income to taxes and interest.
I’m not crying wolf here. Others have been there and done that.