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If you can’t afford it – Put It Down!

November 7, 2010

“Smart Is The New Rich” an amazing new book by Christine Romans, the anchor of CNN’s Your $$$$$, says we should think about money the way we think about nutrition. Consider random spending the money equivalent of junk food. It might feel good at the time, but it hurts you in the long run and limits your options later in life.

She startles us with stats such as these:

  • More people are on food stamps than in college.
  • Foreclosure notices were issued at a rate of 322 per hour last year.
  • There were 5.5 job seekers for every job opening at the beginning of this year.
  • Nearly $7 trillion in U.S. household wealth was wiped out in this recession.
  • The average consumer has $7,701 in credit card debt, $177,186 in home mortgage loans, $14,873 in auto loans and $27,777 in student loans.credit card debt

Her best line, I believe, is also in the subtitle of the book “If you can’t afford it – Put It Down!” Most of us are control freaks; but what is really with in our control?- How we spend our money. At GAI (www.gunwel.com) we want to help plan your budgets and see what works for you, so you can get through this terrible economic time. We have all been there and we will all survive. Give us a call today at 212-979-6830 and stop by for your free consultation. You are not alone! See you soon.

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