| The economic bubble has just burst and the news is | | | | many houses are on the market - regardless if the |
| bad: people are losing their jobs, banks are collecting | | | | bank repossessed the home or if people moved out |
| houses, people are homeless, and the cost of credit | | | | to save on bills. So hang on and stop increasing your |
| is going sky high. If you have good credit (do people | | | | monthly bills and make sure you pay your mortgage |
| actually have good credit?) then hold on to it. If you | | | | and all important property tax. What many people |
| have bad or no credit, then prepare to only shop | | | | don't know is if a homeowner does not pay their |
| with cash from here on out. In either case, it looks | | | | property tax, the bank can repossess their home and |
| like we ALL have to re do our budgets. | | | | that family is out on the street with nothing. |
| While we are all sitting around trying to get a grasp | | | | Another good piece of advice is to learn a new way |
| on how bad the economy is right now and gossip | | | | of paying for stuff - without plastic. And the best |
| about what the news, analysis, bankers, and our | | | | way is to just go cold turkey. Cut up the credit cards |
| family are saying, it's time to do more. It's time to | | | | and cancel them. Credit instrest rates are increasing |
| act. If you just sit around and only "talk" about it | | | | and there's nothing the consumer can do about it. |
| then you'll quickly be swept under the tidal wave of | | | | Whatever you bought last month on credit cards, |
| the American Recession. The U.S. Economy is on fire | | | | this month you need to pay for with cash or learn to |
| and burning to the ground. Sitting around talking | | | | do without. This may completely shock your system |
| about it is like just sitting in the middle of the fire - | | | | and make you look for alternatives with your |
| you will go down, too. | | | | shopping. You may now learn what a "thrift store" |
| One of the first things to mention is for American | | | | and "farmers market" is and take advantage of it. |
| homeowners to hold on to their property throughout | | | | Learning to purchase major appliances from a |
| the recession. You may of taken a second (or third!) | | | | second-hand recycling center or use craigslist.org for |
| mortgage to pay down other credit debt or add | | | | furniture or other house hold goods will also come to |
| value to your property, but now is not the time to | | | | mind. To spark change we need an explosion. If you |
| sell. If you've looked out the window when driving | | | | cut up all your credit cards and close all your |
| down the road you'll see that houses built in the last | | | | accounts, I call that pretty explosive. You have to |
| year still hold a "for sale" sign in the front yard. And | | | | begin to think differently. |
