A solution to breaking the debt ceiling crisis

As the debt ceiling crisis continues, the question remains as to how our country's credit rating will be impacted, and what will the lingering impact be on the finances and taxes of businesses and individuals.  Raising the debt ceiling is like giving an addict another hit to get him through the night.  If our individual financial house was as dire as the governments, we wouldn't be able to sustain the debt service and operating costs of our households.  It appears the real solution to the problem will require not only change, but a new attitude to debt and spending.

Out of all the possible changes available, I believe Dave Ramsey has the most refreshing and hopeful approach to solving the debt crisis, one family, one business at a time.  It's not a new approach, but rather one that goes back to the beginning of time.  Check out his presentation on the Great Recovery.

I've become a big Dave Ramsey fan this year.  With many many clients stuck in a bad financial place, forced to reduce spending due to reduce income, the approach to debt and finances from generations ago is becoming more practical, and certainly more sustainable.  Dave Ramsey has a healthy perspective on generating positive change in our environment.

It's hard to believe that just a mere generation or two ago, our family members struggled through a major financial hardship of the time known as the Great Depression.  Many lessons on saving and spending were learned by that generation, some lessons passed on to us if we were lucky. 

I recall my grandfather speaking about owning a corner grocery store during the Great Depression.  He struggled with trying to balance financial survival for his family, yet extending credit to families so they could put food on the table, knowing good and well he would never receive payment from his unemployed customers.

Later in life, I recall how proud he was when he would find a good deal on a used car.  His favorite car to buy was a three year old, big 4 door Buick, preferably with 50,000 miles on it.  His perspective was that a car with 50,000 miles on it was perfect because it was "broken in" and had a lot of life left.  I suspect this was a "value" purchase motivated by an awareness of the value of a dollar, formed by the Great Depression.

What a refreshing idea....buying a car for cash.  I think I'll tell my kids about this story tonight.  They'll probably roll their eyes like I did when my grandfather told me the same stories over and over again, but maybe they'll remember it too!

A New Chapter at McCarron CPAs...

     We at McCarron CPAs realize that the current economy prevents small business owners from receiving  adequate bookkeeping services with affordable prices.  The saying goes, "You get what you pay for."  When hiring a bookkeeper, you must be selective in order to achieve quality.  Sometimes we sacrifice quality for price.  Therefore, we have designed an opportunity to provide QuickBooks clients with full charge bookkeeping services in house or at our location at reduced rates.  At McCarron CPAs, our clients come first!

Call Patty today to schedule an appointment for your bookkeeping needs!

407-897-7050