A Problem of Americans

January 23rd, 2009 by Eric Cope

I got an mp3 via email of a radio talk show (if someone can identify it, I will post credits). Listen here. He outlines it perfectly. In order of importance.

  1. Reduce your expenses to within your means
  2. Eliminate Debt
  3. Establish an Emergency fund of 6 months pay
  4. Save for future purchases
  5. Use savings for home down payment

Nobody wants to hear bad news, news that they can’t have something they want. However, its what’s best long term.

2 Responses to “A Problem of Americans”

  1. matt says:

    but isnt the American way to spend $1.10 for every dollar earned?

  2. Eric Cope says:

    That’s what my manual says, but I may have a different version…

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