Personal Finance, Spend, Save or Sacrifice

Buy the lie long enough and you start to live the lie. Most people don’t want to make changes; they just want to get to the next day without losing what they have. The economy is trying to reset, but many of our leaders will not let it do so. We have lost our sense of priorities and compromised our own belief systems in the name on financial security.

Subscribing to the theory of borrowing more money to get you through until things get better is a recipe for financial disaster and always has been. Yet we still buy the lie, live the lie, and ultimately suffer the consequences of the deception. What we need is an economic pruning of our personal financial management. Personal finance requires sometimes-sacrificial personal decisions on how you will spend your money.

The goal of any advertising agency is to convince consumers that their lives or the welfare of their families is dependent on purchasing their product. Seems our government has adopted the same philosophy with the new and improved GM ( Government Motors) In other words “buy my new car and your family will be safer and our country will be stronger” or “We can put you in that new home, you deserve, for no money down and no proof of income”.

The lie being propagated across this country is if we spend more money the economy will recover and all will be right in the world. Every chance that is provided, we are told to spend more, borrow more, and things will be just fine. The edict is “sell the “S” word to them. Spend more. The truth is, “Saving” is the “S” word more people need to be practicing

Improving your personal finance situation may require some personal sacrifice and requires sometimes-sacrificial personal decisions on how you will spend your money.

Are you willing to do that? Can you pay for a repair on your car instead of trading it in on the new one that is going to make your life better? Can you renovate your present home in lieu of buying something bigger and better just because you can?

The bottom line is every dollar borrowed has to be repaid at some point. For our economy that may be 5 generations from now or it may be closer than any of us realize, but eventually the debt has to be paid. The same is true for personal financial decisions you make for your family. There are multitudes of families across this country that are losing homes to foreclosure because they bought the lie. The lie that you never lose money on real estate, remember that one?

We have financed, refinanced and refinanced again because we could and we were told to use that equity in our homes to make our lives better. Mortgage companies, financial institutions and lenders have approved loans with no proof of income, no docs and moved on to the next loan. They reeled in unprecedented profits, and there was no accountability. Now our country is faced with a foreclosure epidemic and homeowners are literally fleeing from their homes.The answer is not shop and spend your money until you drop. The answer is live within your means and save your money. Warning, some sacrifice may be required