Something is going wrong "Americans owe more money than they make."
For your happiness, you must have 3 healthes. Body health, Mind health & Financial health. If you are not happy, you will be not good person and start not good thing such a war. So you must be happy. It is not optional. It is a duty.
Aug. 9, 2006 - For the first time ever recorded, Americans owe more money than they make. Household debt levels have now surpassed household income by more than eight percent, reaching 108.4 percent in 2005, according to a May 2006 study by the Center for American Progress. Consumer debt is now at a record $2.17 trillion, reports the Federal Reserve Board and consumers cashed out a whopping $431 billion in home equity last year.
Refininace or equity loan is excellent idea for some people who know what they are doing. If you are not, it may become pit hole. Because you may be seduced for spending easily. There're so many advertising to make you spend. Sales or discount must not be your reason to buy.
Before I started business, I thought my finance was fine. But after that, business expense was challenging. In many case I thought it is investment or necessary for business and bought, bud I did not used them.
But finally my expense got full control with the tax diary system. Keeping reciept was not enough. Downloading credit card transaction record was not enough. I needed to feel pain when I use money and think about if it is worth. And also review process was really important.
There are so many tax advantage for business oweners, because they wrote the tax rules. Good news is that you can be business owner in home based business. All W-2 income earner should have any kind of home based business and use the tax advantage.
Goal is saving/investing your 50%+ of AGI (adjuested gross income). If you do that, how long will it takes you get out of all debt and financial free? Most of the case 10 years to be debt free and additional 10 years to be financial free. If you think you want to be, just search as "Home based business tax advantage" on google.
That's I started organizing after I listened Stever Buller's live presentation 3 times. Now I'm in action and can help others. At least 7 people started around me in past 1 month. Steve Buller's presentation is available in DVD, but I cannot find on online store now. When I found, I'll update this article.
-Naoki
Detail of quated story:
http://www.msnbc.msn.com/id/14251360/from/ET/
