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What contributions can I make as an individual citizen to recover our US economy?
By Rose | January 24, 2008
Andy asked:
As individual citizens, do we have a moral and financial obligation/responsibility to help recover our economy? What can I do to help recover our US economy as an individual citizen?
Henry
As individual citizens, do we have a moral and financial obligation/responsibility to help recover our economy? What can I do to help recover our US economy as an individual citizen?
Henry
Topics: US Economy | 3 Comments »
January 25th, 2008 at 10:42 pm
Get out of debt.
Be honest in your dealings
Support local business
Have faith in the system
Keep working, keep spending money wisely and reasonably
Keep saving money, keep investing in yourself, in other, in honest businesses
pay 10% of your income to your church or local spiritual center
give away things you don’t use
donate some time to a local charity or cause
January 28th, 2008 at 6:24 pm
The best option I would say is to spend your money at various locations.
January 30th, 2008 at 8:19 am
The first poster said it right, get and stay DEBT FREE.
Everyone is pointing fingers, but the fact is too many United States citizens are in debt, which is what led to this problem. There is a lack of money circulating in the system. Save your money, and keep it in interest earning accounts like savings, or CDs. Whenever you deposit money into a savings account, you essentially create money, which puts more into circulation, which is exactly what this economy needs right now. This is a macro-economics, too long to discuss here.
Also, make sure you are spending money in the right places, and find a way to do so while similtaneously being forward thinking. If you’re a homeowner, consider purchasing solar panels. This is a long term investment that will;
1) Cost you some money and pur more into circulation – Good thing
2) Save you money in the long run – Good thing
3) Help the enviroment – Good thing
4) Set a good example and encourage others to do the same – Good thing
The same goes with driving eco-cars/hybrids, using public transportation, etc.
Keep faith in the market! Wall Street is all about speculation, and very little of it linked to anything tangible. People get ‘worried’, and suddenly the DOW drops for no actual reason, it is absolutely ridiculous. Keep an open and calm mind when things like the bailout plan work out like they did.
See if there are anyways you can save your business money. Perhaps they are using too much paper for stationary, or something completely unapparent like that, which can save the company thousands of dollars over the year. The more mney they have, the more goes into R&D and new business ventures, which is what we desperately need right now.
There are many more things you can do to help, but stick with these for now, see how you do, and then once you get a handle on things, ask us again