People Need to Stop Spending

The problem is that people spend more than they make. This is just the fact of the matter. It can’t be said any clearer than that.

If people didn’t spend more than they made, there would not be a debt crisis today. However, times are what they are, and the damage is done- so what do we need to do to get debt free? Stop spending.

Things are tough all over, it isn’t just the locals that are having problems, the government of New Zealand is concerned about the amount of debt that their residents have gotten themselves into. They say that not even money makes you invincible, as those that were initially well off have been hit just as hard as those that didn’t have as much to begin with.

With large finance companies such as Hanover Finance going under, the wealthy have seen a large portion of their investment disappear. On paper it would seem that New Zealanders are wealthier than ever – but that is just on paper. They are more in debt than they have ever been. The only thing that has kept people in the black is the rising house costs – which as history tells us – don’t stay high for long.


 

 

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