Consumers are spending more and the United States economy is coming back into the black after nearly 2 years of decline. Large swings in prices and demand for things like home and gasoline are what got this country, state and world in trouble in 2007 and 2008. For the most part people have learned the lessons of a recession and things are not 'snapping' back as some might think.
The bottom line is consumers are still paying off over-priced gasoline and home mortgage bills they committed to less than 2 years ago. Most people pay the minimum payments ... meaning they are paying interest on something they were over-charged for!! No wonder so many people are in over their heads in debt.
The goal of so many people is to pay their bills from month to month. They never save any money other than what their employer makes them ... and they more than likely spend more by using credit cards and loans - than they make in a month. Your goal in life should be TO HAVE CASH - NOT CREDIT. Look at any wealthy person in your town or country, they have money - not bills and loans to pay off. We all need a modest roof over our heads, and food to eat. But too many people get a house that's too expensive, a car that's too fancy and we spend way too much money on 'stuff' that ends up in the trash when it goes out of style.
Its not about being rich or living a million dollar lifestyle - but you can learn something from those people. They save their money. They invest in the stock market and have plenty of money in the bank to cover living expenses for years on ends. There are 1000's of stocks up more than 100% since November 2008 ... so they are even richer now. They own homes and cars - they don't pay the bank money for a car that's devalued the minute you dive it off the lot! Saving money isn't as fun as going out and buying the new iPad ... but investing in Apple 2 years ago (even a small amount of money) would mean you'd have enough to buy several iPads, iPhones and iAnything because the stock has soared.
The longer you live your life where you have just enough money at the end of the month to pay your bills - the longer it will be until you retire. You might as well run your credit up as high as you can because there is no mathematical way you will pay it off before you die. There will be no time in your life where you won't need a job or social security (if your lucky its around when you 'retire') If you never own your own home outright, if you never pay off a car - if you never save money every month - you will never be able to retire.
Your goal in life needs to be get out of debt by reducing your month - to - month living expenses. Eliminate expensive mortgages by paying them off faster or moving to a more modest home. Pay off your car loans, credit card loans and other 'loans' as fast as you can. You are only making the rich richer when you buy things on credit. Take pride in having CASH invested in the stock market, a 401K or interest earning account. The more cash you have, the more money you can make each month from investing that money. Rich people make more off investing $100,000 than most people make in an entire year of working for someone else. Imagine if you had that kind of money to invest? You'd be able to retire one day!
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