I know that I cannot be the only one sick and tired of hearing the broadcast reporters and reading the constant headlines about whether or not the country is going over the “Fiscal Cliff”. Regardless of your political affiliation, Republican, Democrat, Independent or Undecided, you probably can relate to me when I yell at the screen and say to them “Stop pointing fingers, placing blame, go to work for the American people!” 90 days ago, you could not have convinced me that our politicians would sit back and let this issue go up until the wire and into the new year. The reality today is that they have done just that and seem to be in no hurry to fix the problem that was predicted long ago.
I see this as a blatant reminder that individuals need to know now more than ever that there is no bail out plan from the capital that will save you. You have to save yourself. You have to be financially secure in order to insulate yourself from the political whims of government leaders. They are spending more and more of our money each year, much of it irresponsibly. And have the audacity to campaign and fight for the privilege of taxing us more in coming years than in the past. Do not misunderstand me, I am well aware that the US cannot dig its way out of the current financial pit by merely cutting spending, so I know that taxes as a revenue source must rise. My issue is the level of irresponsible spending that has taken place with no plans to curb waste.
So back to you individually. Now is the time to get your finances in order. Get rid of debt. Control your spending. Put money aside to be prepared for short term emergencies. Stop paying interest rates to other people (car loans, credit cards, lines of credit) and start earning money on your money (savings, investments, business lines, real estate, stocks, bonds, mutual funds). Be your own Bailout – because don’t trust that anyone else is coming.
Besides – my momma always taught me that there is no such thing as a free lunch.