Be Smarter than the Average Bear

I have talked in the past about how incredible it is that the malls and restaurants are packed during these "hard economic times". I was struck with this realization again yesterday, but in a new way. In the past, I was wondering if the economy was really as bad as the media was making it out to be. I have since been convinced that we truly are in a recession and things are going to get a lot worse before they get better.

As I was looking for a parking spot at [the looks-like-it's-December-23rd-packed-full] Best Buy last night, I was amazed once again at all of the money being spent on so-so food and soon-to-be out of date gadgets. I understand there are some crazy steals out there, and they are very hard to pass up. But if you don't have the money, (or don't really need the item to begin with) just say "no"! A penny saved, is a penny earned, right?

My biggest concern is that people are aware of the hard times we are in, yet they choose to spend their money carelessly anyway. Where does this end? Are we, as the American people hoping to get into so much debt that we also qualify for a government bailout?

Supposedly, the average American is behind in mortgage payments and up to his eyeballs in consumer debt. Even if this is not the case, and everyone out shopping this weekend is current with their monthly payments, will this continue to be the case in the coming months? Why spend that Christmas bonus when the clouds are predicting a rainy day to come?

Now is the time to make decisions about how your money will be spent - while you are at home with a clear mind. Don't wait until you are in the middle of Macy's contemplating the 70% off sale.

My wife and I have recently made the decision to make a drastic change in our spending habits, which I am excited to share about in the days to come. I hope there are others of you out there who have already made these hard decisions or are also wanting to make this change. The only way we are going to survive these times is to make wiser decisions than those who are spending their money rampantly. It can be done! I look forward to the discussions that will take place here in 2009.