It’s not a popular idea in Washington or among many Americans yet. As the economy contracts, the true road to wealth is destined to be discovered through saving—not spending—through producing—not borrowing. Many have to learn this the hard way as the high-flowing, easy-money spigot is eventually shut off, forcing a nation and its people to painfully shift from “living beyond their means to beneath their means” (to borrow a phrase from Congressman Ron Paul).
The concept is simple to understand. If you want to buy something—anything—a car, house, computer, vacation getaway package—and you don’t have the funds, isn’t saving the best way to eventually amass your desired object? Through cutting back spending and increasing one’s productivity (income), wealth is accumulated and the object desired can be obtained without incurring the extra and unnecessary expense of interest.
Some argue, though, that spending to receive the object now will generate more wealth later. Similar thinking is seen with the government stimulus package spending. But the question is, what will happen to our country decades from now as the debt continues to grow and payments come due? It’s a flawed thought that only produces a system of borrowing and ultimately results in debilitating debt obligations like our unfathomable trillions of dollars of debt.
Many of us tell our children to save their money that they earn from chores and jobs so that they can afford what they desire or need later in life. “Save,” we caution. “Don’t spend it all” and “Most certainly spend less than you earn.” But what kind of mixed up example does our government and its leaders set for the younger generations? We are selling future generations a fairy tale that positions spending as that shiny “red apple” from the Snow White fairytale.--Just take a bite and go to sleep; when you wake the prince will have taken care of your debt, you’ll live in a mansion, have all your materialistic desires met, and all you have to do is bite that apple, fall asleep and wait for someone else to save you. Now we’re finding out that the prince doesn’t save us. Just as we tell our children, we have to help ourselves by living within our means, saving, increasing our productivity to generate greater income, and carefully investing to meet our needs to live a solvent life.
It’s time to return to traditional values, to a lifestyle that can allow prosperity to prevail. Countries around the world are watching as our country, once the greatest creditor, is now transformed into the greatest debtor. Our country has moved from a mostly manufacturing-based country to a service country that is exporting less and less and the very items that used to be made in the US are now being imported from other countries. The message is summed up this way by Aristotle: “Happiness belongs to the self-sufficient.” If we don’t conserve and work toward a more economically sound lifestyle, individually we will suffer. The same is true for our country and our future generations. Poet, E.E. Cummings said, “I’m living so far beyond my income that we may almost be said to be living apart.”
Raising children to be resourceful, productive, and healthy has always been at the core of my understanding of what will create a better world and a more economically sound generation. And the interesting thing is that if we turn to our children today, they seem to understand the need to save, produce, and invest for tomorrow better than many adults. Thank goodness for the children!
 Phoebe Chongchua | |
| About the author: | |
Phoebe Chongchua is an award-winning journalist who appears on TV, in print, and on the Internet. She's a former ABC affiliate News Reporter/Newscaster who founded Live Fit Magazine in 2004, recognizing how the journalism industry is rapidly moving online. The magazine has evolved frrom producing content only for LFM to producing much-needed video feature news stories and documentaries for companies and associations. Phoebe discovered an unfulfilled niche market and expanded LFM in order to meet the needs of a growing marektplace. Her clients are happy she did! Live Fit Magazine produces video news stories that entice viewing audiences to watch the video, spread the message, buy the product or visit the establishment. It's a creative, credible approach to marketing companies, products, and services. Few companies offer what Live Fit Magazine can do for your company in a single feature video story. Phoebe works with clients to seamlessly integrate their newly produced video into their current marketing materials. She offers expert advice on new marketing strategies and call-to-action campaigns. Her innovative efforts keep companies positioned for success and their customers regularly watching new and informative videos.
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Eating a whole-food, plant-based diet does a body good! Phoebe will show you how to lose weight, eat healthy, and love your life! Join her for fitness videos, living well articles, healthy cooking tips, and recipes, click here to visit Phoebe Chongchuacom.
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