Monday, March 08, 2010
Finances, and the average person.
The average person from what I can see is always living from pay check to paycheck. We are always trying to buy the biggest car, the best house, the best electronics, and so forth. We are trying to one up the neighbors, as well as obtain everything that our parents have worked 30 years in obtaining. I think part of the reason our economy is struggling so hard is because we all have a problem managing our finances. I think we all in some degree or another are FISCALLY RETARDED!
If you are an average person working paycheck to paycheck trying to make it there is some hope for you. I think one major thing that will help is if you have a fund that you can fall back on if you need to. start out with saving $100 - $200.00 and then start saving up from there. The purpose of this fund is for any time you have a struggle that you generally rely on Credit cards for. This fund will replace your credit cards. If you have a problem and you need to fix a leaky roof, or a flat tire. You will use this fund, instead of going into more debt.
Second thing you can do is start paying off your debt. Best thing to do is start with the smallest bill you have and pay as much on that as you can. Once you have that paid off, you will need to put that money towards the next highest bill. And continue the process till you have all your debt paid off.
Think of the money you can make once you don’t have any payments. You can save up for big purchases, and start paying cash for those items. You will have a much happier life.
I think if we can all work on this we could pull the economy out of the recession that we are in, and be able to thrive as a nation, as a people, as a continent, and as a world.