As with everything in life, things go up and then go down. You can liken it to a wave. Just like when you put water in a glass and set it down on a flat surface (our definition of flat), the level of the water will eventually level out. And, just like the glass of water, at some point in its history, it will either be knocked again so that water goes this way and that, it will be spilled or drank and be completely gone. But again, just like in life, the water, or at least the chemistry of the water (H2O) is still somewhere. The question is…where?

The past two weeks I have been asked about the financial future of this country more than at any time since I started teaching financial literacy. I am NOT a financial advisor in any capacity (nor do I wish to be) but I can say this. Some things stay the same and some things change.
[ad#ad-1]

What I mean is, the basic financial principles that govern whether a person ends up financially free or not have not changed:

Pay Yourself First
Put Your Money To Work For You
Only Borrow Money When It’s Going To Make You Money
If You Can’t Afford It In Cash, You Can’t Afford It At All

and my favorite…

Your Thoughts, Beliefs and Attitudes Determine Your Wealth Potential

Then what changes?

Well, WHERE to put your money to work. How to borrow and from whom when it IS going to make money for you and how not to let what is currently going on influence your long term strategies and the systems that you have in place.

Again, I am no financial expert, but it seems to me that it’s just a hiccup. Just like all the other financial hiccups that have happened since the beginning of time.

Will some people suffer? Yes.
Will some businesses go out of business because they made poor business choices? Yes.
Will some people make a ton of money at the expense of others losing a ton? Yes.
Do you have a choice to decide how you are going to respond? Yes.
Do you have the opportunity, just like the rest of the people in this lifetime, to take advantage of the situation at hand and make some money? Of course you do.

The question is, Will you?

So in answer to What to do? My only advice is as follows:

1) Don’t get to upset about it.
2) Seek some professional advice from someone you trust.
3) Keep teaching your kids about money.
4) Keep spending less than you make.
5) Keep your eyes open for opportunities.
6) Take care of your health.
7) Watch an inspiring movie or read a great book.
8) Keep a handle on your thoughts because they really do create things.

And lastly, listen to my mother who always said…

“There, there. This too shall pass.”

Thanks Mom.