From the Editor’s Desk

Gary Foreman

Why Government Debt Should Matter to You

Hello to all my Frugal Friends!

I hate to break into the holiday spirit with a downer, but here goes. Both personal and government debt continues to rise at alarming rates.

Warning number 1. “Personal loans are ‘growing like a weed,’ a potential warning sign for the U.S. economy” (source: MySanAntonio.com) The last time that happened was prior to (and part of) the 2008 financial crisis.

Warning number 2. Our government isn’t doing any better. “The federal budget deficit was $984 billion in fiscal year 2019, CBO estimates.” (source: Congressional Budget Office) That means that our friends in Washington spent nearly $1 trillion more than they took in. Which works out to over $3,200 per citizen. And that in a year where tax revenue was nearly $3.5 trillion! (source: USGovernmentRevenue.com) Which is over $1 trillion more than came in during 2009 and 2010. A level higher than any other year.

Why does this matter to you? Especially if you’re not in debt or reducing the debt you have? As I’ve said before and will probably say again, it’s always best to be out of debt. Especially when others are borrowing more than ever.

If you have any debt, now is the time to pay it down. The interest rates you pay will get higher. Especially if the government keeps adding a trillion dollars to the deficit each year. If you want help paying off your debt, you should check out some of the ebooks we’ve created to help you. You’ll find them here.

If you don’t have any debt, don’t lock in any long interest rate commitments. I was a stock/bond broker the last time interest rates went up significantly. People who had long-term bonds and bond funds took a beating. Even if you’re needing income from your investments/savings, be very careful about reaching for a higher yield by extending the term. Going from a 1- to a 2-year CD is one thing. But switching to a 20 or 30 year bond fund could be a major mistake at this time.

On a happier note, here’s a question that many of us can ask this time of year. “Why is Christmas just like a day at the office? You do all the work and the fat guy with the suit gets all the credit.”

Keep on Stretching those Dollars!
Gary

Would You Like to Save Up to 25% on Your Food Bills?

Hello to all my Frugal Friends!

Now that we’re into December, it seems like the year is just racing towards the end. Most everyone has an overly-full schedule and not enough time to do everything that they want. I find myself among them!

One thing that I hope you make time for is Giving Tuesday on December 3rd (or later if you miss it). Here’s how it’s described: “Giving Tuesday is a global generosity movement unleashing the power of people and organizations to transform their communities and the world on December 3, 2019 and every day. It was created in 2012 as a simple idea: a day that encourages people to do good.”

How you choose to do good is your choice. Whether it’s giving to the Salvation Army red kettle, donating time to a non-profit or passing out blankets to the homeless. Whatever you do will be a blessing to those less fortunate.

Speaking of doing good, how about doing some good for your finances? We’ve just released a new ebook that I’m excited to share with you. Over the years I’ve seen that there are 3 areas that provide the best opportunities for saving money.

Two of them (housing and autos) typically require making a big decision and change. You can change insurance companies, refinance your home or move. Sell a car or trade for a less expensive vehicle. These things can save you money. And, we’re happy to help. We have articles on reducing the cost of car ownership and homeowners insurance that can provide you with savings. But those savings tend to be big, one-time events. There’s only so much you can do to save on your home and auto on a day to day basis.

The third area offers smaller ways to save pretty much every day. If we’re not buying food every day we’re busy consuming it. Each week we make dozens of decisions that affect how much we spend on food.

So we’ve created an ebook: Dollar Stretcher Tips: Food – 300+ Tips for Cutting Grocery Costs and Stretching Food Further. We’ve compiled over 300 tips from readers on all the various ways that they reduce their grocery and food bills.

Can it make a difference? You bet! It’s not uncommon to save up to 25% of your food bill. Often without changing what you eat!

We’ve priced it so that it’s affordable no matter how tight your budget. Only $2.99! Get your copy and begin saving today! If you can’t find ways to save many times the cost of the ebook, we’ll refund your money.

Keep on Stretching those Dollars!
Gary

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