Why Americans Are Going Broke

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  Posted By: online money&software trainer @ 02/15/2008 5:40:41 AM

  Americans are progressively growing broke because the greater percentage of their monies are spent on "Consumer Oriented items" versus "Income Generated items".
  I am specially trained in Finances,Economics and investments but is not teaching on that right now.
  However, I think the real crooks in being broke - is Really the lack of Key, Key! investment information.This we can substantiate, and prove to you easily,because within the 2% Rich Americans populace are some rotten rich people, some even at age 16.Which simple means that it is the right /key information along with a decision that will in effect move you from the 98% to the 2% category even overnight.!
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  Would that make a difference in anyone's way of life or their family?
  Would that possibly stop people's house or business from foreclosure?
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  Posted By: observer101 @ 02/14/2008 10:53:53 PM

  Maybe people should start saving there own money for stuff they want rather that putting stuff on credit cards. Ist if you think about it, they are charging you to buy something that you cant really afford with the hopes that you will miss a payment, or pay the min payment for the next 3 yrs. @nd why pay someone to hold your money, or withdraw your money? Invest in a safe and put away your own loot, no bank fees, no late payment hassles. That is the banks main gig is to nickle and dime you to death with there legal mumbo jumbo. Perfect example....If you have direct deposit, and you have checks that YOU know will be covered when the bank opens they will put ALL of the checks through first.( so the 25$ bad check rule applies for not having sufficient funds) then put your direct deposit through and then ring up the charges you just racked up. Run the nonsuff chx through again and they hope you dont have enough to cover the second round of insuff. chx. and walaaa they just made atleast $100 on you. This is done thousands of times around the country and it rakes up a pretty good chunk of change. If you think about it how many average ppl switch banks for this exact reason, only to have it done again and again. Its the all mighty banks that are ripping us off with DEALS on loans then balloon the payment and wipe out ppls savings...Moral of the comment..Save your own loot and dont rely on the banks.

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  Posted By: SharedThought @ 02/13/2008 12:55:15 PM

  The day after Thanksgiving has come to be called "Black Friday," because the large amount of revenue businesses receive that day, as many consumers begin to do their Christmas shopping on the day after Thanksgiving, helping the balance sheets of businesses go from being "in the red" to being "in the black." ...BUT, if many of those consumers used CREDIT CARDS to make those holiday purchases on the day after Thanksgiving, creating DEBT that they would later have to begin paying off, then doesn't that mean that, if the day after Thanksgiving is "Black Friday" for businesses, then that SAME DAY is "Red Friday" for HOUSEHOLDS that GO "INTO THE RED" on that same day. ...But, the media gleefully highllights "Black Friday." SO, is it any wonder if some consumers take a similar devil-may-care attitude about spending?