Economic indicators point to a slowdown for the fifth consecutive month: manufacturing & services slowing, companies cutting jobs accompanied by first time claims for jobless benefits increasing, continuous deterioration of the housing market, stock prices down, etc.
Jean Murray of Small Business Boomers citing Jennifer Heigl’s Daily Blender presents evidence of consumer spending pushing the US economy into recession.
Technically, an economy is in recession if indicators drop for 2 consecutive quarters.

Whether the US is in actual recession or not, consumers feel it is. Consumers, even those with comfortable discretionary disposable incomes, are behaving as if recession has already occured.
Should you …read more

As the Super Bowl kicks off and the spotlight is on NFL stars, I would like to look beyond the football field and give some unsolicited advice to NFL stars with regard to their personal finances.

The prime earning period of NFL stars (as well as other personages in entertainment) is usually short, besides being uncertain. It is important to know the difference between Wealth and Income:
There is a world of difference between wealth and income. It is easy to confuse the two. And many think wealth and income are synonymous. Wealth is what is owned. …read more

Many wage earners have a very difficult time controlling Expenses which actually grow more rapidly than the increases their employers are willing to give. Thus, very little cash surplus (or worse, no cash surplus at all) is generated.
The best way to control Expenses and actually SAVE some amount is to spend money on an Asset that you really want and can pay for in installments.
Because the Asset is something you really want and you do not want to lose the Asset, you will actually control your Expenses so you can meet the payments.
At the end of the installment period, …read more