Red Flag: Consumer debt rising!

February 15, 2011 at 11:12 (Health and wellness, Money & Finance, Relationships)

On the Today Show, Jean Chatszky and Consumer Reports’ Mandy Walker raised the alarm of consumer debt being on the rise. For the last 2 years, it appeared that personal debt was abating, but once again, consumers are “back to their old habits.” This report does NOT surprise us in the least. We lived through countless ups and downs in the economy to know better that consumers won’t change until they make the change for themselves. The Economy is ONE GIANT psychological roller coaster and trend setter, NOT a means to an end.

We are known as the “FREEDOM T.E.A.M.,” because we know the value of ownership. This hit a nerve with a potential Strategic Alliance recently who called us out and stated, “Does that mean you don’t charge for anything?” We answered, “absolutely NOT!” It means that we know the value of the dollar. We don’t believe in credit or the “credit” industry. It is because of this attitude we are able to thrive in this economy whilst others are barely surviving. People and businesses are debt heavy and cash poor. That just is not us.

Recently, we saw an HGTV episode of “Selling New York,” where a well know New York City “Soap Star” was selling his New York City apartment and needed to do it FAST. His property in Florida was barely floating. We wondered, with all the millions he MUST have made through several years and decades of acting…where did ALL the money go? Not very many people realise that there are PLENTY of wealthy people that are credited up the hilt. Remember Sami Davis Jr.? Red Foxx? Tony Braxton? They ALL faced financial hardship. Tony Braxton was bankrupt and had to buy back her own Grammy awards!

Here’s the rub, savings IS easy when you VALUE and PRIORITIZE your expenses. EVERYDAY IS a choice, either to buy a beautiful set of painted tea cups and saucers from Ebay at a huge bargain price of $15.00 or buy power steering fluid for your car for $20. The former is a “Want” whilst the latter is a “Need.” For us the choice is clear. Needs trump wants!

Healthy | Mindful | Wealth

Twitter contact: T.E.A.M. @gabriellebourne. Ask questions at hashtag #TEAMSOUNDOFF

© 2011  |  Gabrielle Bourne – T.E.A.M. @gabriellebourne

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