[pullquote align=”left|center|right” textalign=”left|center|right” width=”30%”][/pullquote]Our present day society is living on an inflatable dollar. In other words our net-worth is close to nothing and most live off of some kind of credit. Today there are 14 trillion people in debt. We continue to dig ourselves deeper and deeper into a hole. We are utilizing a tremendous amount of the world’s resources.
Instead of buying a cheaper compact car or getting a smaller apartment, some will live to the max of their credit limits. If you are included in the numbers above, scale down by only buying what can truly be afforded not what your credit limits allow. It is a never-ending cycle because it is hard to pay recurring bills and keep our credit spending to a reasonable limit. If spending abilities are not controlled, balances will continue to rise until the average person is unable to pay them anymore.
Take a look at the job sector. Jobs positions are being eliminated, some through technology. Businesses are closing their doors.There are many high wage workers who have lost their jobs and refuse to accept lower paid employment; thus increasing the unemployment rate. Somehow credit spending keeps increasing. This is an equation for national debt and serious decisions need to be made.
The bottom line is our standard of living is higher than our actual assets and net-worth. Higher paid officials can afford a few pay cuts. The rich keep getting richer while the poor get poorer. The poor end up with the shortest end of the stick.
Remember to be realistic about what you can afford. If you enjoy dining at restaurants, practice cooking more meals at home. You can save money this . Your grocery bill can actually be cut in half. Park your vehicle and take more walks. Not only is this cost-saving, but it’s healthy too!
Glenda Coker US