There’s a change in the air, hopefully…
December 29, 2008 by Dennis Gravitt · Leave a Comment
As 2008 draws to a close, many are fearful of what next year holds in store for us. As an observer of the recent financial crisis, I am optimistic that many of us are beginning to awaken to the poor financial decisions that got us here in the first place. As we gradually feel the hangman’s noose of our financial creditors tighten, we’ve started replacing ill conceived spending habits with prudent ones. This past summers grossly inflated gas prices provided an additional wake up call, as we were forced to begin making choices on how best to spend our finite incomes.
The Payment Trap
December 22, 2008 by Dennis Gravitt · Leave a Comment
It seems that the average American’s hunger for goods and services can only be satiated by the aquisition of more stuff. With the continual bombardment of images telling us that we can only be happy if we purchase the newest hot ticket item, it’s no wonder that many of us are falling victim to our presumed desires. We’ve bought into the message that we need that newest techno gadget. As compulsive desire overides reason, we can’t be satisfied until we obtain the item. But shortly after making the purchase, in the span of just a few days or weeks, the novelty begins to wear off, and we find ourselves on yet another quest to buy something. We are caught in a vicious cycle.
The Nation's Debt Problem
December 18, 2008 by Dennis Gravitt · Leave a Comment
Take a look at our nation’s ever increasing deficit at http://www.brillig.com/debt_clock/ and you’ll get a great visual on how our own Government is failing in the area of fiscal responsibility. With our leadership unable to manage its finances, it stands to reason that those for whom it serves would also be struggling in this endeavor. And, as the American consumer provides the horsepower for our economic engine, it comes as no surprise that we are encouraged to keep on spending.
Caveat Emptor
December 15, 2008 by Dennis Gravitt · Leave a Comment
“Caveat Emptor” is Latin for the phrase “Let the buyer beware”. What this implies is that the buyer is responsible for examining the condition of an item prior to buying it. Unless specifically stated, as in the case of a guarantee or warranty, once you’ve taken possession of the item, it is yours for better or worse. A similar principal applies when entering into a contract, and partially explains why we often experience “Buyers Remorse” after we’ve signed our John Hancock. Questions arise like, “Did I miss something in the fine print?”, or, “Did the salesman disclose everything about the item?” Perhaps this explains why we have misgivings when it comes to dealing with sales people. Unfortunately, when it comes to financial issues, such as saving for retirement, we often have no choice but to turn to a sales professional for guidance. Or do we?
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