Money problems are nothing new, personal bankruptcies in the United States grew to over 1 million in 2008 and will likely soar in the years to come as the economic crisis worsens. Additionally, financial worries are consistantly at or near the top stressors (Money is the top stressor for Americans). While perhaps discouraging it's not new, throughout our nations history hundreds of smart, successful people including Donald Trump, Mark Twain, and Thomas Jefferson have filed bankruptcy. Financial problems are clearly not an indication of a persons worth or intelligence.
Collectively we do even worse, the United States government will first time in history have over a 1 trillion dollar deficit in a single year and both Democrats and Republicans agree that the national debt will exceed $10 trillion in the next few years; with the real problems yet to come see the federal government's financial health. Clearly, the government has no answers either.
While there are hundreds of external forces that you can't control, there are steps you can take today to gain control over your personal financial problems, Mitchell Allen's (marker for book purchase) A Survival Guide to Debt will empower you and show you steps to take to emerge from debt and recover from the devastating financial and emotional effects of these financially hard times.
Understanding how you spend money is an essential part of getting out of debt. Learn how to determine your money personality so that you can develop a budget that will allow you to pay off your debts.
Debt is necessary for many things, but debt isn't evil. Americans use debt to finance education or the purchase of a home or car. It is helpful when managed properly. Watch as I explain how to handle your creditors and pay off your debts on Good Day.
About the Author
Mitchell L. Allen is the founder, president, and chairman of Debt Education and Certification Foundation (www.debt-foundation.org), a leading provider of personal debt management courses. Courses he helped develop have been used in over 200,000 counseling sessions, and he has personally conducted more than 1,000 interviews with individuals in financial crisis.
Mitchell previously worked for Citigroup and The Associates Financial Corporation as senior director of modeling, where he led a team of economists and statisticians in developing statistical models to predict response, risk, and fraud within various private label credit card portfolios.