Personal Finance – A Growing Crisis, Could You Be at Risk?

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The conditions that lead to the financial collapse of 2008-2009 are slowly beginning to come back to the point where without something being done we could find ourselves at the edge of the abyss again.

The growth of personal debt and student debt is rising at an alarming rate all while the rate of savings and investing has again dropped significantly. While Americans are “Credit drunk” and spending more and more, The bills keep mounting and will come due again real soon. Today it’s so easy to get caught up in the borrow and spend cycle that has ultimately lead us all to the edge, staring at the collapse of the economy and of the financial systems as we know it today How’s your level of debt?

What’s it going to take for us to change our ways?

Use these 3 suggestions to make sure you don’t suffer during the next financial crisis. You don’t have to play that borrow and spend game and live that way. Follow these 3 easy steps to create your own Financial recovery and leave all the worries and pressure to the others.

1. Create a plan – put together a plan to get you and your family on track to saving regularly

2. Establish a working budget- go through the process of analyzing all your income and spending and get things in check.

3. Protect your Family – Get on a good insurance plan. Plan for the worst while hoping for the best! Unfortunately bad things happen to good people every day. How would your family be financially if one of the main bread winners got hurt and couldn’t work? Or worse yet passed away unexpectedly and left the family with no earner to pay the bills?

These simple yet powerful steps that will guarantee that you and your family will sleep better, have less worry and enjoy life more during the next crisis.

We all know that the economy has its up’s and downs, jobs are created and jobs are lost. But with the right financial plan you and you loved ones will not only whether the next storm, you’ll come out of it even stronger than before.

None of us want to be faced with making the tough choices like whether to buy food for the week or pay the heat bill. By taking some time now to go through those 3 easy steps you can ensure that you and your loved ones won’t have to.

Source by Samuel F. Schollmeier

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