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Sep. 26th, 2008 01:15 pmAll of the economy hub-bub.
Does anyone else find it just annoying, yes it's real, but everyone is trying to capitolize on it, and it's turning into another scare tactic, until it's all you hear anywhere until you tune out. People are being scared into being inactive instead of proactive, because we're led to believe any move we make will be the wrong one.
I cannot, cannot, cannot stress enough that now is not the time to stuff your piggy bank, to close your bank accounts, or to pocket every penny you find and put it all away for a rainy day. This is the rainy day, and it's time to spend a little to stabilize the economy the best we can.
In saying that, I don't think you should empty your savings accounts, I don't think you should put your spending on your credit cards, and I don't think you should live beyond your means even the tiniest.
I think you should make conscientous decisions to buy American made products (that come from your own region or even your own state if as much as possible), and buy them often (but once again not beyond your means).
At the same time, begin paying your debt down as much as you can - but not all of it, leave a little bit of debt on the cards, because
A) If your card is free of a balance, you're more likely to rack up even more money on it
B) Racking up more balance on your cards just adds to the amount of consumer debt on the books
By spending our money instead of hoarding it (and I don't mean your retirement, investments, savings and emergency funds obviously HOLD ON to those!!) we dump more money into the economy to help fuel it - and the best places to dump it is into stuff that is American, instead of sending so much of it out of the country! This isn't something we can put off - this isn't something we can depend on others to do. We have all got to make these contributions to our society.
Does anyone else find it just annoying, yes it's real, but everyone is trying to capitolize on it, and it's turning into another scare tactic, until it's all you hear anywhere until you tune out. People are being scared into being inactive instead of proactive, because we're led to believe any move we make will be the wrong one.
I cannot, cannot, cannot stress enough that now is not the time to stuff your piggy bank, to close your bank accounts, or to pocket every penny you find and put it all away for a rainy day. This is the rainy day, and it's time to spend a little to stabilize the economy the best we can.
In saying that, I don't think you should empty your savings accounts, I don't think you should put your spending on your credit cards, and I don't think you should live beyond your means even the tiniest.
I think you should make conscientous decisions to buy American made products (that come from your own region or even your own state if as much as possible), and buy them often (but once again not beyond your means).
At the same time, begin paying your debt down as much as you can - but not all of it, leave a little bit of debt on the cards, because
A) If your card is free of a balance, you're more likely to rack up even more money on it
B) Racking up more balance on your cards just adds to the amount of consumer debt on the books
By spending our money instead of hoarding it (and I don't mean your retirement, investments, savings and emergency funds obviously HOLD ON to those!!) we dump more money into the economy to help fuel it - and the best places to dump it is into stuff that is American, instead of sending so much of it out of the country! This isn't something we can put off - this isn't something we can depend on others to do. We have all got to make these contributions to our society.
