Financial Declaration of Independence

 

 

 

 

 

 

 

 

 

 

 

 

‘WE, THE SAVERS’ | A 10-point plan

Interesting to note that in Monday’s Wall Street meltdown, the only S&P stock that saw its price close “up” was Campbell’s Soup. Nothing like a little Chicken Noodle to fend off Chicken Little.

The sky is falling, though, for the financial picture of many people. ING Direct placed a full-page ad in today’s USA Today talking about America’s “tough financial spot,” saying that while there’s no way to turn back the clock on the crisis, there is something we can do as individuals to alter the course.

Here’s the 10-point “Declaration of Financial Independence” proposed:

1. We will spend less than we earn

2. We will use our home as a savings account

3. We will take care of our money

4. We will defend our credit worthiness

5. We will ignore unsolicited credit card marketing

6. We will know the cost of borrowing

7. We will invest for the long term

8. We will take care of the things we have

9. We will remember what matters

10. We will be heard.

The ad appears on page 5A, and each of the 10 points comes with an explanation and advice.

Good stuff…hopefully our Congress will take heed and read it as well.

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