Dec 27 2008
Another money quote by Benjamin Franklin
“If you would be wealthy, think of saving as well as getting.”
— Benjamin Franklin
How many people would be wealthy if they followed both steps? There seem to be a lot of getting going around, but not so much of the saving part. But now the economy is forcing some to switch from one side to the other. Is this a good thing?
It seems overall that making Americans begin to save instead of living on credit would be a good thing. Unfortunately, this change coincides with spending less, which will not stimulate the economy, to say the least. It looks like things are going to get worse before they get better.
Perhaps it is just part of the growing pains our country has to go through in the new global economy. It will be interesting to see how this plays out over time.
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