“You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.” (Dave Ramsey)
Now, more than ever, you owe it to yourself and those you love to do your financial homework. There are lots of audio and video resources to help you get a handle on your money. Among them, Dave Ramsey (quoted above). Scores of people have liquidated their debt and got on their feet by taking his Financial Peace University class. Many others have been helped by the direct and passionate style of Suze Orman. Here are some things I am reading and learning:
- Non-government student loans are one of the very few things that can not be expunged with a bankruptcy filing. I did not know that and will be choosing carefully. Those debts stay with you until they are paid or you die.
- Our national debt is nearly $17,000,000,000,000.00 (See http://www.brillig.com/debt_clock/).
- The US GDP (Gross Domestic Product) at the end of the past year was $15,684,800,000,000.00 – which puts the national debt into perspective.
- Homes priced 10% below their current regional market value tend to sell 10-15% more quickly.
- The 5 Lessons A Millionaire Taught Me: About Life and Wealth (Richard Paul Evans)
- The Richest Man In Babylon (George Clason)
- Total Money Makeover: A Proven Plan For Financial Fitness (Dave Ramsey)
- The Road To Wealth (Suze Orman)
- The Millionaire Next Door (Thomas Stanley & William Danko)
The current debt-ceiling crisis in Washington D. C. highlights the need to be aware of our money—what we have, what we owe, where to get more, etc.
Do yourself a favor and get yourself an education—if you haven’t already done so—on the way money, debt, deficits, markets, lending, borrowing and the like functions. In this time, more than ever, ignorance is not bliss—it is dangerous. Be awake.