Get your mind out of the gutter, that is not what I was thinking. Although in truth you may not be far off, as noting can kill romance faster than worrying about paying your bills . Every where you look there are stories about companies getting billion’s of tax dollars so they can keep their poorly run companies afloat. AIG got over 130 Billion! Billions to Citibank, Bank of America, GM & Chrysler. At last count the amount of the US bailout package was over 787 Billion, or that would work out to $2,623.00 for every person in the US right now!
Ask yourself the following questions:
1) How are your tax dollars being spent?
2) Are companies using it to reduce debt, cover operating costs, grow the business or to give out as bonuses?
3) Are goverments creating policy that will foster long term economic growth or just mortgaging our future for poorly run companies?
4) Should these companies be allowed to fail?
5) Would the best use of the bailout fund be to return them to the tax payers and allow them to stimulate the economy?
The trouble is that there is no right answer, or just one answer. We are in challenging economic times, yet there are business that are thriving ( Take Apple for example). Even though unemployment rates are rising, 94% of people still have their jobs, and there is a light at the end of the tunnel, and no it is not in the form of an oncoming train. We can all play a part to insure that we all make it through these challenging times no worse for wear. Here are a few suggestions that can be used for business or personal finances. Know what your income expense ratio is, finance only what increases in value or adds to overall profitability and cut out any unnecessary expenses and use savings to pay off your debt as quickly as possible.