The Economy Tanks, Now What

Okay, so the economy hasn't completely tanked. There are a lot of good things still happening. Maybe we will get back onto topic because of it.

There are some things that need urgent attention. One for example is the Red Cross needs donations. They are dealing with thousands of people needing support on the Gulf coast in Texas and still in Louisiana.

Why would I say give when people are unsure about tomorrow? None of us are guaranteed tomorrow. We are guaranteed right now. Right now is a great time to pass along help to those in need.

The Bible says:

Give, and it will be given to you: good measure, pressed down, shaken together, and running over will be put into your bosom. For with the same measure that you use, it will be measured back to you." Luke 6:38 (NKJV)

It also says:

Do not say to your neighbor, "Go, and come back, And tomorrow I will give it," When you have it with you.Prov 3:28 (NKJV)

Giving is a command of God. It is the one sure way of testing our resolve. We will either become greedy in times like these or we will be gracious in how God blesses us. True character is shown in tough times.

The Red Cross is not the only way to give. Another place I like to support is Operation Compassion.

But why give?

Only through giving do we take the time to reflect on what we have and how we can make a difference even with little.

Through reflection we can also get a better handle on our own budget.

Every budget should consist of giving, saving, and spending. Giving reminds you that you have an important role to play in this life. There are greater tragedies than our own.

Saving is a way to protect yourself in times like now. Dave Ramsey suggests having a $1000 in savings for emergencies. Then pay off all consumer debt. Another thing to do is have 3 to 6 months in budget savings. See Dave's Baby Steps here.

Spending comes regardless of what we do. You have to decide how important things are to you. Where can you cut back? Don't worry about not supporting the economy. Worry about supporting you or your family by the financial decisions you are making right now.

The federal government

The federal government will have to take care of its own mess. We have all those smart people we elected and they are pretty confused about how overspending effects the economy. Maybe one day they will realize that our country is in debt and needs to get out of it.

Besides, Congress has more important issues to deal with - Check it out: Congress Celebrates Boooze

For now, get yourself in step and take care of yourself.