Tuesday, January 13, 2009

Back to the Basics

I think it’s time we got back to the basics. A huge part of the predicament we’re in today is directly related to living beyond our means. We probably learned it from Uncle Sam who is a master of robbing Peter to pay Paul.

We want new houses, but we don’t want to pay anything down and we want a hundred year mortgage. We want to drive Hummers, but we want to keep gas at around $1.35 a gallon.

Many feel that down payments are passe and that saving for a rainy day, a concept that went the way of dinosaurs or vinyl records.

I can tell you this, I don't think my parents ever lost one moment's sleep because the stock market was down 40%. When times got tough, they hunkered down, grew a bigger garden, made things last, and made do with what they had.

I know times are different now. The view looking back always more attractive than looking forward. The world is a complicated place but the basics haven't changed. Live off less than you make. Pay as you go. Early to bed, early to rise, always makes a man healthy, wealthy and wise.

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