Wednesday, September 16, 2009

How to Save Money In These Tough Economic Times

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The last time that our country has seen this much financial distress the American people were getting ready to be thrown into the midst of The Great Depression. It can be proven with the recent nationwide debate on healthcare reform and the all time high in unemployment.

To combat the effects of the Great Depression, this county enacted the National Industrial Revitalization Act by the Federal Government, which completely shut down some financial institutions, in order to change its practices and protocol, leaving Americans with little or no access to the hard earned money that they entrusted.

Now that our economy is multi faceted and so intertwined, the government has power to make small changes in our economic recovery (i.e. Cash for Clunkers and the recent Bailout of some of the major banks), but a far reaching financial overhaul which was enacted in 1933 is almost impossible in this day and age.

This being said, most of the economic recovery responsibility falls on use, the regular citizens. We have to not only rely on our government to spur economic growth, but we must take it upon ourselves to take actions within our own economic situation in order to ensure financial stability and growth.

Read the entire article here:

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