I usually do not post on the things that I am about to in this one. Actually, I never have, till now... So here goes....
We all know who Dave Ramsey is, (unless we just moved here from the moon) and know that he is a strong advocate of becoming a debt free America, of which by the way I am too and is the reason for this post.
According to some of the most recent polls and surveys and information gathered by some really smart people our country is in severe trouble financially. I am not just talking about our government either. That is a whole other story for another day. I am talking about the average American who is strapped with more unsecured debt (credit card) that they could pay off. The average American has $12,000 unsecured debt and is paying close to 18% interest on that debt. Let's do the math........
If the minimal payment is made faithfully every month, let's see, 3 times 19, carry the 9, add 670, take away.....yep, if we pay almost $300 a month for little over 5 years.....and most of you know that very few people are paying even close to the $300 a month. If the minimal payment is made, (and this is what most are doing), it will take 15 years and another $7200 in interest paid. So, for that $12,000 that was borrowed, you will pay back over $19,000 dollars.
That means that the television you bought on credit while on sale for $699, really cost you about $1299. It just isn't smart financially.
People, we have to take charge of our lives, our money and our future and stop allowing a false hope that the government will take care of us delude our perspective. They cannot even take care of themselves! According to the most recent studies the average American not only has $12,000 in unsecured debt, but a mortgage, two cars, and only keeps and average of $640 in the bank. This means that most of us are living from one paycheck to the next and all it would take for financial ruin would be to lose about 1-2 months of work, and for many just 2 or 3 weeks.
It's no wonder so many are scared right now....
Let me give you some hope, and maybe some practical things to do right away to protect yourself.
ONE. Surround yourself with positive news and positive people. This is so important right now. Find a good church that teaches the Word concerning finances and prosperity from a balanced approach. There is nothing worse than hearing some preacher shout at you that God is doing all these bad things to you. Where is the hope then? No, poor planning and not seizing divine opportunities is what got most of us to where we are. Be sure to get involved in a small group which will exemplify that same thought and message.
TWO. Start cutting back and saving more. I understand we all want a certain quality of life, but, every family needs at least 6 mos of savings for emergencies. Many, Many are wishing they had done this years ago. Let's learn from this.
THREE. Do not be afraid to look for other money making opportunities. Many allow fear to literally freeze them from doing anything while it is in the bad times when many fortunes are made. There are many ways to make money out there, as well as many legitimate start ups and new stay at home businesses that may be right for you. I have just recently gotten involved with a Brand new business offering ground floor opportunities for significant wealth for any who want to work a few hours a week. Very, very minimal start up, ($499) and the most aggressive pay structure of any businesses yet. Maybe this one is right for you.
Go here for more information if you like. DEBT FREE AMERICA.
The thing is, do allow fear to govern you. There are ways to make more money during these times and literally become debt free and have money in your bank account at the same time. You just will have to remain calm, keep an open mind and work smart.
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