Posted By: David Lucas
I believe these tough economic times are coming because consumers have incurred far too much debt, the government has incurred far too much debt at all levels of government, and because many companies have incurred far too much debt.
There are many steps that I would encourage each and every one of you to take:
1. Make a written budget and stick to it. This budget should be a monthly budget if you are new to budgeting or an annual budget if you are an old hand at budgeting. My wife and I have had a written budget since a couple of weeks before we got married. We are currently working on next year’s budget and will have it done in the next week. Every December we prepare a budget for the next year and analyze how well we followed our budget in the current year.
2. Evaluate your job skills and improve them so that you can find a better job.
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Posted Feb. 8. 2009
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