Back On Track!
Amazing!
Just a few days away from the highest gas prices in history and already we are declaring “The worst is over.” say some Fox News financial analysts.
Who do they think they are kidding?
The market wen up on Thursday almost 200 points.
See that’s proof the good times are back, right?
Whoops! We forgot to tell you the market went down 450 points combined for the rest of the week.
I work all day every day with peoples finances and companies finances. Some of the people I work with are quite affluent. I see the best and worst and everything in between and I make it my business to keep track of what is going on both Nationally and Internationally financially.
I am not a Profit sent by God to foretell the future but we are being fed a line of c**p!
It has always been in the best interest of the stock market and business to project an image of prosperity even when one does not exist. Loosing consumer confidence has always been a major no no in the financial and business community. But when we (The consumer) have are head so far up our butt that we cannot see the forest for the trees it spells big trouble.
The business and financial industry have always made a killing when the consumer is ill informed or just ignorant.
Today the consumer is IGNORANT!
“If you know the truth the truth will set you free.” John 8:32
People do what makes them feel good at the moment, with no consideration to the consequences.
The Mortgage crisis is mostly the fault of the feels good mindset.
People are shooting themselves in the head financially and saying ” No one told me that the gun was loaded.”
It’s time for the American consumer to stop trying to buy the US out of hock!
It is not your responsibility to attempt single handed to raise the GNP (Gross National Product) numbers.
Stop using debt!
A client argued with me the other day that if all Americans stopped using debt the economy would collapse. I asked him when he was appointed savior of the economy?
Why is it his responsibility to buy everything he can get his hands on and destroy his own family in the process?
Think people!
Who is going to bail you out? Is the congress going to vote to bail you out financially?
You and I have to be responsible for ourselves.
For the most part those who are truly prosperous have no debt.
Those who are duped into believing we can prosper on debt walk a fatal line. I see them daily. I see the pain and devastation and bankruptcy and families torn apart by debt. I see sickness and depression and loss of self esteem. Emotional disorders, suicide, total destruction from the debt mentality.
Most who read these warnings will nod your head in agreement as I did for many years and change nothing!
MY hope is to cause just one to heed these warnings and take affirmative steps to change the direction of there lives forever. To those who would be bold and say I will not continue to be the status quo I say.
Start a structured plan of attack. You cannot do it yourself! If you were a financial expert you might pull off some real change but we need help. Get with a no fee faith based debt elimination strategist and let them help you.
You and I will accomplish much more if there is some accountability. Even the most prosperous of my clients will say I could not have accomplished all that I have done without a structured plan and a “Money Coach.”
Get a Money Coach today and start moving from mediocrity to true freedom. You will not regret it.
See you next week.
Doug’s Money Matters is a section of the VAJoe Blog to ask for quick financial tips and advice from an expert with more than 20 years experience in counseling families to live without debt and to reach there financial potential. Please leave comments on this Blog. You can learn more about the Money Matters advisor at his website. The posts and comments by JoeMoneyMatters reflect his two decades of financial counseling expereince. VAJoe.com does not endorse any financial strategies, but offers this blog as a service to its site members for discussion.
http://dkirk@forwardfinancialgroup.com
August 2nd, 2008 at 9:01 am
Great post Doug!
I learned my lesson the hard way. Divorce is devastating enough and to add credit card debt to it only makes it more painful. The road back to financial recovery is a long one.
I will no longer purchase anything unless I have the money to pay for it in cash. PERIOD!!!
Julie
August 2nd, 2008 at 9:05 am
Lessons learned in pain are not easily forgotten.
August 2nd, 2008 at 9:31 am
Ordinary consumer debt is bad. Debt that results in income can be good though. Donald Trump has negative net worth but is considered one of the wealthiest men in the US.
If youre currently set up financially with minimum debt. Do you consider now, or in the near future, a good time to start making plays in the rental property market? Do you think rental properties have taken a big enough hit to their value to consider them at a “discount”?
August 2nd, 2008 at 9:45 am
Josh,
We are not big advocates of rental homes. Apartments and condominiums are and can be good in certain cases.
1. You can afford several consecutive months without rent being paid.
2.You use a Management company.
3. you have done your homewark and know that the rent is comparable to others in your market.
Be Cautious. I have worked with so many who were not able to withstand bad renters for several months and were bankrupted by the renters.