The figure of 100 million unemployed people in America today is daunting but, not because it is all the fault of the unemployed. The unemployment rate is at the lowest number since Barack Obama became the president. Unemployment is at 9.8 percent, and that means that an additional 1.4 million people have given up looking for work.
There are a lot of problems with the newly unemployed. One problem is that many of them are simply trying to survive. They are not looking for a fast way to make a new income. Rather, they are trying to survive until the children can go back to school. After all, college education costs about $50,000 a year.
Well, as I said, one thing is for sure. This Great Recession has devastated the middle and working class of America, and almost all shrinking industries are a direct result of the biting Middle-Class. More and more people are discovering the old saying, “If you can’t stand the heat, fearing the upcoming financial devastation, you’ll surely throw yourself into the fire Option #2.” I think it is fair to say that the vast majority will throw themselves into Option #2 with high hopes of a bright future.
I have lost confidence in the class struggle here. I was raised by progressive parents who stood by our young ones as they emerged from high school, entering into college, and getting a good job. Now, these same people are going into financial ruin trying to survive a jobless economic environment. That is the same divide. Most of these people toil each day just barely surviving. No matter what the circumstance, whether good or bad, work is something they are forced to do. It becomes a written obligation.
Types of financial-Saving Ideas
1. You are above the equation.
You are your main source of income. You are the boss. How many times was it asked, “How, what, whose responsibility it is to pay this utility bill?” These are two completely separate things. When one person is making the money or when the one who is in charge seeks the money what do you think is most important to address? The extension of love? I don’t think so. I believe you are in charge of your circumstances. Begin to work from this perspective. Exclude your financial obligations from your daily routine and go to work only to earn money. Leave the buying of yourself Short-Term Goals (Short Term striving).
2. Debt is Down, Taxes Down, Income Down
Sources of income used to be your main source. Payroll checks were direct deposit, and there was no need for money orders or check-cashing services. You did not have to go to the bank or an ATM to access your money. Combine those products that existed previously and dig in deep fairly quickly. If you are like most people, you are using debt to support long-term consumption. Debt can be good and terrible. It is important to point out because it would cost you even more not to use debt.
Make a list of your debts
Mortgage or rent, securities or investments that you may a participate in (401K, Roth IRA, Mutual Funds, etc.), personal loans and credit, auto or house payment(s), insurance, college loan, debt eating/ Consolidating debts (Student Loan, Home Mortgage, Credit Card, Reconsolidation loans, most Student loans ), vehicle loan, monthly expense list (Eating out, Telephone, Mortgage, Repair Coverage, Insurance, Gas, etc.), Flexible Spending Account(ULA), medical expenses, taxes, antiseptics, prescriptions, prescriptions), and finally student loans. Yes, every debt in your spreadsheet.
Make that call. Do what it will take to make this stuff happen. There is nothing that creates this situation than a lack of money management and making bad decisions. It may feel overwhelming or, it may seem so small. Work it out. Determine how much will go from income against debt. Once you know how much you are short, you have a plan to move forward. This happens quite often. They are compelled to buy something they know they should not because it is not in their best interest. Sit down and determine how to work with your weaknesses, and hopefully be stronger.
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