April 3, 2008

The Hundred Dollar Bill is the new Fifty Dollar Bill: Where is our economy at?

You may be asking, why did I choose the $50 bill over the $100 bill? The answer is simple, a hundred dollars feels like a fifty dollar bill today. This speaks for how $100 dollars just does’nt buy you what it could 6-8 months ago. For example, I it used to cost $28( 7 months ago) to fill my tank and now takes $54. This is an astounding number if you consider how the price of most things have gone up. You can further confirm this by noticing the price elevations on simple household items at your local grocery store.

Is the U.S. economy going to the sewer? I would beg to differ. Though times are tough for many of us these times present us with golden opportunities to invest in. The housing market has suffered the most and I would still be weary of purchasing real estate. But, you can bargain so much better now than before. In some scenarios I have seen home owners be able to get bargains on renovating their homes. This is caused by the fierce competition our economy is experiencing. Furthermore, outsourcing has become more popular than ever before. Elance offers exceptional services at prices that would be near impossible to match here in the states.

My Notes:

Invest in your company(s)
Make a weekly budget and stick with it(much like a diet, if you don’t stick with it you won’t get results)
Price Shop: with so many competitors worldwide explore your options and spend wisely.
Write where you need to go before going. This is simple but is commonly ignored. I have tested this and saved about 25%-40% in fuel not to mention time, I value the latter more. More to come on how writing saves you so many many headaches.

In what I have experienced, yes a hundred bucks buys you about what fifty bucks used to. Resolve to take some proactive approaches to keep more hundreds in your pocket. The economy is much like a current, it is fierce and ruthless on some days, but is also forgiving and calm on others. The key is to keep paddling through and making adjustments as needed. Challenge yourself to to cut back on excess spending. Do you really need that pair of shoes?….after all, you may not need pair # 45…..

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