Trying to think about what to write as I've followed the banking-mortgage-money crisis is like trying to figure out where to jump on to a merry-go-round that's in full motion.
But for individuals it comes back to controlling what you can control: your career prospects, saving instead of spending all your money, and getting rid of high interest rate debt like credit cards.
Is the economy "melting down" as it appears by the headlines? Think of this: companies still produce goods and services, families still need houses and apartments to rent or own, and 93% or so of Americans are employed.
Fiscal responsibility isn't just a political term but it's a societal truth that all of us must grasp and embrace. In past years, politicians have urged Americans to spend in order to avoid recessions. That has helped lead to problems of personal debt. Instead, families should be urged to save to build wealth and operate from a position of strength.
Take action. I know for me, when I take action then I don't feel like a helpless victim. Here is an I wrote which you may find helpful on just that topic.
Stick with the basics while you read up on the financial whirlwind happening around us. Focus on what you can control in your financial life not what you can't control.
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