It has been a bit of a lay-off for me Blog Aholics! Business has been crazy, and let me tell you this much, I never complain about having work, that's for damn sure!
A little bit ago I was talking about controlling your own economy, I wasn't to scary in depth about anything, it is just an east read blog for the most part. Today, I'm going to talk a bit about controlling your own inflation and it might give you a different way to think about things.
If you're a little concerned about what is going on in the World and especially this country the most control you can have is your vote. Other than that, you don't have a lot of say over things. What you can take control over is your own Economy and how you operate your own State of Financial Self. Inflation is something that has to be considered and how you can grab some control over that. Look at the your situation through my eyes for a second and stick with me would ya? Considering inflation and cost of living increases is moving at a faster pace than pay increase you need get serious about some things. Our dollar here in the US is week, not just here but around the world. Your pay isn't keeping pace with what it cost to live even for those that don't live beyond their means. Look at your interest rates that you are paying, that counts if your renting as well. What I'm talking about with rent is this: $150,000 home is usually about $1,300 a month to rent. That's about a 10% interest rate which is very high! That same home to own is about $800 a month considering 5% for an interest rate. Credit cards have jacked their rates on a lot of people to 18-24% and sometimes 25-28%. Even with that in consideration many Americans are still using those high interest credit cards because they need to or are trying to maintain a lifestyle. Inflation in those scenarios are high! Landlords can get premium rent right now because there is NO SHORTAGE OR RENTERS. What they need is inventory, meaning more property to rent out. Inflation and credit do not discriminate and have a large effect on everyone.
What does all this mean? A simplistic look starts with credit, I'm not kidding either friends. Our country has a poor credit rating right now, like it or not it does. It cost a lot of bucks to get "stuff" we need or want and a lot more than it used to. The country's credit is a major factor in that considering how much "stuff" we get from overseas. That causes a ripple affect like no other. It goes to every American in the country! Consider your own credit situation for a minute. The money you are borrowing, what do your interest rates look like? Own or rent? Think about that stuff for a second then consider how can you leverage yourself to take advantage of some of these things. If you can improve your credit, on your own or with the help of a professional it could counter your own inflation and dramatically counter cost of living increases. This improves your situation and can actually give you a better long term financial outcome. These are some basic thoughts in working on your own Economy and State of Financial Self my friends and its important. Rates are low, take advantage of them and improve your situation! I could go on and on about this subject of "Your Own Economy" and "State of Financial Self" but this is just my blog and I don't want to lose you. Questions, comments, concerns, praise? :) Always welcomed! If you need me, I'm always around...
john@redphoenixco.com
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