Weekly Overview

There are many economic events that took place this week affecting consumers in a very personal way. Several reports found that consumer spending is continuing to slow while defaults are on the rise, meaning that most of us are continuing to feel the pressure from creditors. Meanwhile, a record number of people flocked to refinance their mortgage in today's low interest environment after an emergency Federal Reserve cut and another cut shortly afterwards. Finally, Bush outlined his new budget that projects $3.1 trillion in spending that may adversely affect senior citizen health benefits and numerous other domestic plans in favor of providing relief to soldiers abroad. All in all, things seem to be getting worse for the consumer.

Tip of the Week
Help Your Kids Avoid Bankruptcy

Lessons that we learn from an early age can influence us for the rest of our lives. As a result, it is very important to teach kids the importance of saving and financial planning at an early age. Teaching these skills of paying back debt, focusing on saving, and the importance of investing can help them be prepared and plan for their financial future ahead and avoid bankruptcy. But what are some ways that this can be done. (Read More)

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