Perhaps this is good for American's

Today's economic situation has been painful for many American's. Having gone through financial difficulties myself, I don't wish this for others, that said, perhaps this can be good for American's, who can now begin to change there habits, i.e.

1. Realizing that the Stock and Real Estate markets do not automatically rise every year.

2. Understanding that 3-6 months in living expenses in savings is a good idea.

3. Understanding that a family of four does not normally need 2000+ sq ft. of living space, and more than one automobile.

4. Understanding that one does not need to own the latest trendy electronic device.

5. Understanding that reading ALL of the fine print of any agreement before signing it, IS imporntant (including credit card agreements.)

6. Understanding that balancing one's bank statement each month, and holding one's bank accountable for for errors is a responsible course of action.

7. Understanding that charging one's credit card for prestige consumer items is just plain stupid!

And the list goes on...America's financial institutions share a measure of blame for this present economic downturn, but American's themselves, with there wreckless spending habits, have contributed greatly to there own financial downfall.

Originally posted by bill718
Today's economic situation has been painful for many American's. Having gone through financial difficulties myself, I don't wish this for others, that said, perhaps this can be good for American's, who can now begin to change there habits, i.e.

1. Realizing that the Stock and Real Estate markets do not automatically rise every year.

2. Understanding t ...[text shortened]... re wreckless spending habits, have contributed greatly to there own financial downfall.

There is no apostrophe when pluralizing something by adding 's', as with Americans.

All pretty sensible, but although saying a family of four doesn't NEED a second car is correct, it's more then a little convenient.

Originally posted by Barts
All pretty sensible, but although saying a family of four doesn't NEED a second car is correct, it's more then a little convenient.

Depends where you live. If you live in a big city where you can walk or take the bus or train to work and wherever else you need to go, you might not need any cars.

Where I live (suburbia), my family absolutely needs two cars. I have to drive to work and I need a car to be able to drive to clients and my teaching job. My wife needs to be able to bring the kids to school and go shopping, etc.

Originally posted by bill718
Today's economic situation has been painful for many American's. Having gone through financial difficulties myself, I don't wish this for others, that said, perhaps this can be good for American's, who can now begin to change there habits, i.e.

1. Realizing that the Stock and Real Estate markets do not automatically rise every year.

2. Understanding t ...[text shortened]... re wreckless spending habits, have contributed greatly to there own financial downfall.

You fogot a few

1. understanding that your federal government is out of control and cannot balance a check book any better than you. After all, when is the last time you ran up a $10 trillion dollar debt.

2. Understanding that your energy prices are about to go even higher via cap and trade because the federal government simply needs more funds or become insolvent.....which will happen eventually.

3. Understanding it is every man for himself. Washington is beyond help.

4. Understanding that soon mass inflation will hit the US causing a further depletion of your savings

Understanding?