With everyone going crazy over banks not having enough money to pass out so much credit we sometimes forget to appreciate what we already have. I was just saying to another blogger that wrote a nice blog that maybe this was a chance for people to slow down with their spending and start living within their means for a little while. I also remember looking at the legacy's that have been passed down by generations of families leaving homes as the biggest piece of wealth for most regular working Americans. Those legacy's have been destroyed by people pulling all the equity out and just creating so much debt that they can't even afford it all. Soon the only legacy's that will be passed down from families is a ton of debt. I have a client right now whose mother just passed and he has so much debt now that he needs professional assistance to cope with it. No matter how much money we receive from China or any other country that decides to buy into our securities it wont stop until we the consumer slows down on our spending and live within our means. Do you know that there was a time that most homes had only one working adult, yes I said ONE and now that is truly a thing of the past for most considering all the upgrades that we think we need to make us happy. Until we become happy with just ourselves we will always be in debt because we will always chase the dream of happiness lye's within material possessions...
Jonathan~ Those material possessions are the very things that tie us down....
If we can keep our government out of the lending business allowing those who should not be buying homes then life will be better. Let capitalism flow freely.
It is a great feeling to be debt free and be sitting in a position where I do not have to panic about what is going on. I have never owned a credit card and never will. If people would only buy what they can afford then life would be so much better for all. But this is America and we are never happy with what we have and will be willing to lose love ones for all the stuff we can get...........
Jonathan, I myself have really started to do this, oh about 3 weeks ago. I have the same business that I had last month but I really started thinking about the money we spend and it not being worth it. I would hate to ask for a depression throughout all this but I think the one thing the depression or a recession does is humble people a bit. I think we do need that right now.
HI JONATHON!!
Advice that should be well-taken. Thank you for sharing your thoughts!
All the best,
Comments(4)