Like you, I have had lots of discussions about the financial mess we as a country find ourselves in. And if you know me, you know I have some thoughts. So here are my two very unqualified and uninformed cents.
Everything eventually rights itself. The bad loans and bad investments had to be corrected. And the market corrected itself. There is no possible way to reap what you did not sow in the context of worldly experiences, which includes the financial sector. And the industry is reaping what it sows. Bad investments will reap bad experiences.
Get out of debt. Do everything in your power to pay off your credit cards, cars, and whatever other loans you have. Get hard core about it. By carrying debt, you and I are contributing to the massive debt that burdens our entire economy. I don’t know about you, but I am tired of paying more for something than it’s worth simply because of the interest it will cost to carry the loan for it.
I can’t advise you on your financial assets. And I am not sure you can trust your financial advisor. After all, did he or she call you before the market crashed? Did he or she advise you that there would be a problem with banks? Your only real and trusted advisor better be God Himself. And you better do exactly what He says. And don’t cry over spilled milk. If God is your provider and your source, no matter what situation you are in, He will guide you out of it.
Don’t panic. The people who are panicking are those that are losing their shirts, pants and shoes on wall street and our politicians who are seemingly inept to execute legislation that would rile their special interests. Pray. Read your Bible. Trust in the Lord. Save your money. Become frugal again. Take the time now to break the power of consumerism off your life. Just calm down and acknowledge that God is in control here, and not the gavel swinging heads of our various government branches.
Enjoy the journey. We will get through this. But let’s not get through it as though Armageddon just broke out. Enjoy each moment, celebrate your kids or friends or family, and be thankful you have what you have and be willing to share at a moments notice. Life was meant for living while you are alive!