I’m sure many of you reading this right now have come to learn that this fact “Debt Equals Slavery” is true. This economic crisis, recession going into depression…whatever you would like to call it has not just woken up a lot of American’s but people all over the world.
Let me just first say that 2009 was quite a negative and difficult year. Not only did the world economy took a dive, the stock markets were a little hard to play and jobs were disappearing faster than you can sneeze. I’m sure for a lot of people have felt the effects of last years downturn and can relate to what I just wrote.
Wow…the American stock market has been on a wild ride in the recent weeks or so. There were days where the dropped more than a few hundred points, and dipped below the 9,000 point mark. Very, scary stuff. With the U.S needing more than $700 billion of tax payers money to bail these financial companies and banks out of trouble, it leaves a lot of questions unanswered.
Here are some of the questions and comments that I have:
The economy is in bad shape now and layoffs keep rising, now millions of families must take steps to sort out the household balance sheet by cutting as much expenses as they can. What bugeting does is help you identify what you are spending and where to decide how to cut back.
As defined by Wikipedia:
Affluenza, – painful, contagious, socially transmitted condition of overload, debt, anxiety and waste resulting from the dogged pursuit of more.
and
Affluenza – 1. The bloated, sluggish and unfulfilled feeling that results from efforts to keep up with the Joneses.
2. An epidemic of stress, overwork, waste and indebtedness caused by the pursuit of the American Dream.
3. An unsustainable addiction to economic growth.
Press PLAY below:
In light of the current market turmoil that is happening, mainly due to sub-prime credit problems that hit the financial companies which in turn took everything else down with it, I thought I would share this documentary that I found online.
Strangely this hour long documentary was made prior to when the media started really covering this whole sub-prime credit / loan issue. There are a lot of people out there who knew that this was coming.
Most of my posts recently have been about stock, option trading and my internet ventures, so I decided that it is about time I write an article on the subject of personal finance.
by Das Brain
My previous post under the Debt Management category was about me deciding to attack my credit card debt and have it payed off in 18 months.
by Das Brain
Well, when I realized I had a problem with Credit Card debt, I thought to myself I better take care of this fast and now. It was the first step of admitting to myself that I had a credit card debt issue.
From my research there are 4 steps involved in attacking the paying down of Credit Card debt.
They are:
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