We hear and read “we’re working our way out of a recession”, or the government is working with lenders to be more flexible with homeowners. But what is really going on?

The facts: it is getting harder then ever for consumers to manage their debt, unemployment is still high and many homeowners who have had to do loan modifications are worse off today then before and finally, most consumers believe that taxes will have no choice but to rise

What is the answer? Stash some cash for a rainy day. Try to put away as much as you can as an emergency reserve, cut back on spending, try paying by cash instead of credit and get your financial house in order. Unfortunately, the situation calls for proper planning and caution

This entry was posted on Friday, October 23rd, 2009 at 12:34 am and is filed under General Interests. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.