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Notes

The bitch with a “recession”

Keeping to my theme of the Monday Bitch, I will talk about the stock market and our economy and debt. So many people out there complain and whine about about the status of our economy, yet they continue to build debt that is overwelming. Credit card companies only require you to make a minimum payment, which is roughly 2% of the balance. This allows us as Americans to free up cash we “need” for other things and continue to float the balance. Lets say that you take a trip to Hawaii and charge $2,000. If you paid only the monthly minimum it would take you 30 years to pay off and that trip would cost you $7,000!! HOLY FRICKEN FRICKER! Thankfully the major credit card companies have decided, just recently, to double the monthly minimums. This will allow debtors to pay 4% and decrease that debt quicker. With this increase the same trip we talked about would take 10 years to pay off and the interest would decrease from $5,000 to about $1,100. We spend DOLLARS and make QUARTERS. If you are going to accumluate debt pay it off each month. If you are already in the hole, like most Americans are, make a concentrated effort to pay 10% instead of 4% and get rid of those balances. Better yet, take your refund check and put it all towards your balance. If you need help, you can download a free budget worksheet here……….. www.betterbudgeting.com/familybudgeting.htm

Our economy is struggling…..right? Well thats what the media and everyone else around us is saying. I am in sales and I have yet to see the effects of a struggling economy. If you want my opinion a “recession” is all in what you make it. If you let it get you down, you listen to the media and people around you, then you are going to be effected. Throughout history the stock market has seen ups and downs, yet it always seems to rebound and recover. A “recession” should be called “checks and balances”, because really thats all it is. Its a good way for us as Americans to tighten up our spending, pay off some debt and REBOUND. Check out the historical chart below.

THE TIM

The bitch with a “recession”

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