Yeah I guess it is the “B” word no one likes. No one likes to be told what to do or be limited in what they can do, especially when not at work.

The mortgage companies brought this on themselves (the poor market). They were the ones who created these unrealistic homes that made them money today but screwed themselves in a few short years, as well as their customers.

Anyway, I haven’t been to your blog in a few days so watch out, because here I come. Don’t you love CommentLuv?

I find it ironic how not that many years ago in real estate it was suggested that a mortgage was no more than 28-30% of your income. We know that got out of control and home owners were getting homes that took a huge percentage of their monthly income.

Here we are, going full circle. Unfortunately home prices got out of control and a lot of people don’t even qualify now.

And isn’t it funny how the word budget is the new “B” word…like it’s something bad.

This has been a great teaching post. Hopefully it’ll get lots of attention and bring people to take action.

Barbara Swafford’s last blog post..If One Is Good, Two Is Better

Let’s just do the 1st grade math. If you sock away $1,000 a month in a savings account that yields you 3% and your credit card debt is at 10% or even 15%, are you making money or losing it?

Even if someone needs to take on a second job, work more hours, cut spending here and there, they MUST lower that consumer debt.

To toss my American coin into the well, I’d like to add that debt is ok . . . as long as it is debt that contributes to building wealth and not eating Tacos.

Yes. They put aside money instead of lowering their debt.

That is the most stupid, useless method of getting rid of debt faster. Plunk that savings money down on debt fast and in large quantities. Shed debt. THEN save.

My two cents in Canadian coin
James Chartrand - Men with Pens’s last blog post..Would You Use a Job Auction Site to Find Work?