Hello again, I know it has been a while since my last feed, but I wanted to take time to get involved with what’s really affecting a lot of people right now. It has been increasingly difficult to put politics aside, especially with the amount of involvement from the U.S. government. Big banks are already paying off the TARP loans, and now that they are back on their feet, they seem to be forgetting about the little people, which of course, is us. Many of the big banks have only modified 5-15% of mortgages that are eligible. And to add injury to insult, some have adopted a devious and snake like tactic of increasing minimum monthly payments or reducing the credit limit on an account. You might want to check your local credit unions for their interest rates on credit cards and loans. More often than not, they have lower rates. They can do this because the credit unions are built by consumers like you and me, and not by some shadow monopoly. Like swine, the big banks seem to have a nice mud hole full of money now and have not shown much interest in sharing.
If you have been reading the news or listening to your favorite talk show, then you already know that many, many American’s are without a job, and there are even indications that many more jobs will be cut next year. Debt in America seems to be rising again, along with more residential and corporate foreclosures. I still am wondering after all these big bank bail-outs, where the benefits to the public are. As far as Socialized healthcare, that may need to be put on the back burner until the basic necessities are restored. It’s almost like America is in a financial war, with the banks and Government on one side, controlling our debts and thus trying to manipulate how we live. What the other side doesn’t know is that we have voting power, the ability to decide to boycott banks refusing to cooperate, and a choice where to spend our money, and that includes switching our banking to competitors.
Are you tired yet of waiting to be rescued by the new administration? Maybe now, more than ever is the time to take ownership of your future. I believe the time has come to reduce our debts, and look at one another for some support and encouragement. How much has society already sacrificed? I believe that most Americans are ready to downgrade their creature comforts until they can get control of their lives, and thus start rebuilding their financial futures. Some spending will be necessary in order to keep things flowing, but extravagance seems to be the old, and frugality seems to be the new.
I say lets get rid of the debt, help one another, and be honest. If a big bank wants to still be a pig, then bank somewhere else. Personally I like to use my local Community Bank. The community bank seems to be better than storing my money in a Mason jar.
Knowing where your money is and knowing where it’s going are the first pieces of financial independence. Become educated and become excited about your future. Don’t assume that your bank or lenders have your best interest. After all, as long as you’re in debt, they continue to grow and eventually bleed your money out like a leech. Your protection is up to you, but I would recommend staying away from the swine and their money pits no matter how tempting they may be.
The local book stores and your local library have a dedicated section where you can obtain books on how to control your finances. Become involved more and take control of your money. It will be hard in the beginning, sort of like when you first start an exercise program, but the more you apply yourself, the better you become and the better you feel. Thanks again for listening in to Jump Start America.