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Your bills are adding up. You’ve spent foolishly on a few things and got behind when Dad got sick. How oh how can you fix your financial distress?? Correct!!! You spend more money! More money than you can ever hope to repay! You “invest” in businesses that have poor management and assume they will make a comeback! You break your kids piggy banks and give it to the gardener to re-sod the front lawn. Sounds like a genius of an idea doesn’t it?

4 Thoughts on The next time you and your family get into debt is this the solution?
  1. Reply
    Kevin
    June 25, 2011 at 5:12 am

    I think the best way to deal with the financial debt is that when you make money, make sure you save a good portion of that timely so that once you’re in a financial crisis you can use those funds to your needs

  2. Reply
    bailie28
    June 25, 2011 at 6:08 am

    right and dont pay your taxes isnt that the going fad right now ..or at least in obamas white house

  3. Reply
    ☼make love, not war☼
    June 25, 2011 at 6:38 am

    if you were an economist, you would see that the tactics we use with our personal finance can not be carried over to the economy. The gov’t engages in deficit spending when the economy is in a recession. the gov’t borrows money to finance deficit spending
    in theory, the extra funds should stimulate business activity, pushing the economy into an expansion phase. as the economy recovers, revenues should increase, providing the gov’t with a budget surplus. the gov’t then can use the surplus to pay back the money it burrowed.
    the economy has interconnected parts that make it more complicated than just spending

  4. Reply
    Mar
    June 25, 2011 at 6:44 am

    My parents taught me not buy if I could not afford to pay for it first. Credit cards are pushed too much and the people depend too much every time they think they want some thing. When I was in the store one guy tried to use his debit card to put $ 30.00 on a charge bill. Said he never carries cash. I try to put back emergencies. I don’t have much but my parents went through the depression and I think they taught us kids the right way to living. Some people will do every thing like take vacations and buy the best and these people will go through bankruptcies over and over and never learn their lesson.

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