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If there is anything the credit crisis over the last few years has taught us is that debt is bad, despite what financial companie’s try to tell you.  The other thing is that everyone has to really watch their spending.  Part of the monitoring of spending is those little things that you buy, like coffee, latte or a bottle of water here and there.If the economy continues the way it has been for another few years, you will most likely be forced to change your habits, especially if you are in heavy debt, you have no savings or if you are in a job that is at risk of layoffs.

1. Create A Balance Sheet

Begin and look at your net worth by collecting your most recent investment statements and going online to retrieve your current account balances.

Once you’ve documented your assets and subtract your liabilities, consider the following questions:

• Does any one financial asset consume a disproportionate share of your net worth?
• Are your assets properly insured?

Jim Rogers a famous investor who’ve seen lots ofs up and downs in the world thinks the American Government is feeding the people of the United States lots of false information. Jim Rogers think that the American economy is going to get worse not better as recent job loss increases and there is going to be a lot of pain for American citizens for the coming few years.  The politicians and banking executives are to blame, however they are just passing the buck and deflecting the blame.
Click Play and watch the flash video.

I’m sure many of you reading this right now have come to learn that this fact “Debt Equals Slavery” is true. This economic crisis, recession going into depression…whatever you would like to call it has not just woken up a lot of American’s but people all over the world.

Interesting how jobs are being loss at record pace which means people do not have money to spend or live, but when you watch certain U.S and Canadian government reports…they try to paint a rosy picture.

Wow…the American stock market has been on a wild ride in the recent weeks or so. There were days where the dropped more than a few hundred points, and dipped below the 9,000 point mark. Very, scary stuff. With the U.S needing more than $700 billion of tax payers money to bail these financial companies and banks out of trouble, it leaves a lot of questions unanswered.

Here are some of the questions and comments that I have:

This news is a few months old but here goes. The last time the Russians offered Apple clones was back in the days of the Soviet Union.

Despite Apple CEO Steve Jobs complaints, RUSSIANS have started churning out cloned Mac PCs.  Apple has failed to gain any ground in Russia because the operating system and hardware are just too expensive for everyday Russians to afford.  They don’t see the point of not eating for a year just to buy computer, when they have figured out how to clone them for 50% less or more.

The economy is in bad shape now and layoffs keep rising, now millions of families must take steps to sort out the household balance sheet by cutting as much expenses as they can. What bugeting does is help you identify what you are spending and where to decide how to cut back.

As defined by Wikipedia:

Affluenza, - painful, contagious, socially transmitted condition of overload, debt, anxiety and waste resulting from the dogged pursuit of more.

and

Affluenza - 1. The bloated, sluggish and unfulfilled feeling that results from efforts to keep up with the Joneses.
2. An epidemic of stress, overwork, waste and indebtedness caused by the pursuit of the American Dream.
3. An unsustainable addiction to economic growth.

The Affluenza Theory

Dave Brook is not a scrooge, but while visiting his friend in another town last week he sure felt like one. The 43-year-old sales manager didn’t like the idea of dining at a fancy steakhouse, where a sirloin can set you back $40. Instead, Brook suggested a less expensive place to his friend. After the dinner there was a feeling of awkwardness between Dave and his friend.