Take Responsibility for Your Problems
It seems that many people are against the US bailout plan. I agree with them. Why should we help companies that made bad decisions? If you agree with that, you must also agree with ‘Why should we help people who made bad decisions?’. Most people spend more than they earn, relying on credit cards, lines of credit, equity loans and so on. Now that things have slowed down, some of them are screwed. Many people are hoping the government will bail them out, provide jobs, and so on. No one owes you a job so get over it - make your own success happen.
If you’ve learned anything from this blog, it’s that I try to empower the individual. This means saving most of the money you earn, living below your means, and avoid shopping as much as possible. This savings empowers you because you don’t need to have a job, you choose to have a job (or not). Over the past few months I’ve been at home without any income. I haven’t been worried even in the slightest.
Now is not the time to panic and worry. If you haven’t been following my guidelines you may be feeling some pain right now. That’s okay, you’ve hopefully learned your lesson. To prepare for the next downturn (and there will be one) you need to do the following:
- make more money (see my previous blog posts and e-book)
- save more money
- spend less money
It’s really that simple. I got tired of getting an employee’s salary, with all sort of deductions. I could barely save any money. So I found a niche, started contracting and most of the money stays in the corporation. I pay low taxes in my company and personally since I pay myself dividends. I suggest you do the same.
