It seems like everyone is talking about and worried about the current economical crisis in America, so I would like to give my thoughts on the matter.
I think that people need to take care of their own personal finances above worrying about the economy or what the next president will do to make your life better. And what I mean by this is to be more concerned about your "minieconomy" of your personal finances over the worlds. Paying off debt, having an emergency fund, and having job security are obviously important things to worry about. What I am concerned about is how many people are simply worried about the stock market over these other factors that are much more important in terms of security.
I think that since the economy seems so bad it will give people a reason to worry about budgeting their finances, which I feel is probably the most important financial goal. Tracking your expenses allows many to spend less money, have short term goals, and have greater peace of mind.If this current crisis brings people to pay off debt, and not spend more than they make in the long term America will be better off.
Friday, October 17, 2008
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