The Financial Crisis of 2008-2009 has taken its toll on millions of Americans. Lost jobs, ruined credit score, and the loss of homes, makes this financial crisis one of the worst since the Great Depression. It took years for the country to pull out of the Depression? How can we recover?
1. Learn from our mistakes. The first thing to do when we have find ourselves at the bottom is to figure out how we got there, and what can we do to keep it from happening again. If we don’t learn from our mistakes, we are destined to repeat them. Again and again.
2. Stay out of debt. Debt is not your friend. Debt is a giant ball and chain hanging around your neck, pulling you down deeper and deeper into poverty. “The debtor is servant to the lender,” the Bible says. And it’s true.
3. Operate on cash. If you don’t have it, don’t spend it. Our emphasis should never be on our “credit score”. It should be on our “cash store”.
4. Get rid of the Credit Cards. Cut ‘em up. That is a foolish way to operate. Wait til you have the cash, and then make your purchases. The character you will learn from this lifestyle is priceless. Continue reading ‘Cure For the Financial Crisis’ »