Financial Crisis

You would have to be in Siberia to not have noticed the recent financial crisis that is taking place in our contry. Home foreclosures and the stock market plummeting. many americans are losing money at record levels.

In my opionon, the worst is not over. Home Prices are still overvalued and our economy is scaring foreign investors which is causing them to pull money out of our equity markets which in turn causes the stock market to go down. I would consider the best thing for you to do with your money is to pay down debt. While the markets tumble or even stabilize you could probably earn 10% or more on your money by paying off credit card debt.

If you are lucky and don't have any credit card debt, then I would consider investing in Visa stock (Ticker Symbol "V"). In a struggling market I think it will at the very least hold stable and during tough times many people turn to their credit cards to pay for things which in turn has the possibility of boosting Visa's profits even more.

Hey I never said I was a fan of credit cards but the companies that issue them are profitable businesses because Americans rely on them way to much. We might as well profit off of our own stupidity.

Credit Card Advantages

Although I do not promote the use of credit cards for those who cannot handle it, sometimes if you can use a credit card responsibly, there are some nifty perks.

Savings Accumulation

Some great news, well for me at least. I finally have saved some money. It may not be much but since my last blog posting, I have saved $250.00. I have made it a habit of taking $25.oo out of each paycheck. One time I had enough money to put in $75.00.

All the experts say that you have to pay yourself first. You have to make it a ritual of taking that money and pretending you dont even have it. They recommend %10 of your income, but at this point I am not able to reach that level of income due to my expenses. However, I do plan to reach that point and even more. It takes baby steps, and I suggest anyone that doesn't think they can do it to start out small and slowly increase at a pace you feel comfortable with.