| In the United States we teach our children to get | | | | Benjamin Franklin was one of the wealthiest men |
| a credit card learn to make your card payments | | | | in the pre-revolutionary colonies? Benjamin Franklin |
| and keep accounts current, are only provided | | | | believe and expoused in his autobiography that |
| very basic information regarding balancing their | | | | every American child should receive education in |
| check books, receive little real accounting training | | | | basic accounting. Did you know that John D. |
| unless they specifically seek it, and are not usually | | | | Rockefeller chose to study accounting at a trade |
| trained to create wealth and to wield capital. The | | | | school and began his career in a counting house? |
| result is unprecedented levels of debt, sharp | | | | Did you know that George Washington on |
| differences in asset value between the haves and | | | | assessing the indebtedness of his large holdings |
| have nots, and a society running on borrowed | | | | early in his career adopted a policy of debt |
| capital. For individuals seeking freedom breaking | | | | eradication that led to his eventually becoming one |
| this chain of poor choices, learning to sacrifice | | | | of the wealthiest men in America even after |
| some today for tomorrow, and focusing on value | | | | many years away leading our rising nation? I think |
| not consumption leads to tremendous freedom, | | | | we should not be surprised to see that these |
| reduced stress, and greater happiness. | | | | individuals who studiously avoided great debt and |
| The United States is blessed by government and | | | | seriously studied and applied business accounting |
| culture norms that lead to tremendous wealth | | | | are examples of great American wealth creation. |
| creation. However, over the past 70 years, a | | | | If you are deep in debt, get on a path to pay |
| number of changes have led to tremendous | | | | that debt off. If your debts have spun out of |
| consumer and government debt that threatens | | | | control and you cannot stay current, begin |
| our livelihood and security. There are a variety of | | | | focusing on the smallest and paying them off. |
| pop writers and pundits preaching against debt | | | | Contact your creditors and explain the situation to |
| and offering solutions. Some offer simple, | | | | them and begin making minimum or even less |
| executable, if somewhat challenging solutions to | | | | than minimum and ask for relief from them. |
| the problem. My favorites are Bob Kiyosaki (Rich | | | | Explain that unless you can work together, you |
| Dad Poor Dad) and Dave Ramsey (Financial | | | | may have to declare bankruptcy as your means |
| Peace). I believe consumers need to get on the | | | | will not allow you to meet the terms and pay |
| band wagon and start pursuing financial peace. I | | | | down their debt. Find a path to eliminate debt and |
| further believe that accepting the bitter choices to | | | | begin a process of financial education as |
| get on that road are imperative and of | | | | recommended by Franklin and practiced by some |
| tremendous value to most individuals. | | | | our wealthiest forefathers. |
| Jumping into the topic, did you know that | | | | |