Some People Are in Bad Shape March 22, 2008Posted by pf in Expenses and Savings.
Tags: bankruptcy, common sense, Credit Card, debt, foreclosure, net worth, Retirement
Today I ran across a piece on CNNMoney entitled America’s Money: In their own words. It was 19 quick snapshots about different people’s current struggles with money. In a word…depressing.
While it’s no secret that Americans are over their heads in debt and many are struggling financially, to read them and see their photos really brought it to life. I read each and every one. At the end, I found myself very thankful that:
- I am gainfully employed
- I have adequate health insurance
- I have virtually no debt except for my mortgage
Although all financial hardships can not be avoided, it is clear that many situations are easily prevented.
SPEND LESS THAN YOU EARN.
Common sense, yes? Unfortunately, the old saying that “common sense is not so common” rings loud and true in personal finance as in life.