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[monica odenwald Contribution Level: 3]

I recently learned that 90% of middle class Americans are 6 digits in debt to live the all American dream lifestyle.

While I believe the people of middle class America are here to stay, do you agree that
saving and investing money needs to replace borrowing and spending money mindset we have, in order to keep what we brag as the best place in the world to live?

Any thoughts?

Monica

[Lawrence Bergfeld Contribution Level: 4]

They must learn network marketing skills today meticulously to get ahead.

Lawrence Bergfeld
Learn How To Think Critically
Lawrence Bergfeld
917-399-6207
http://lpb30.bigmlmtruths.com/?mad=40588

[Shaun Hailes Contribution Level: 2]

Monica...I believe step one is cut up the credit card.
STep 2 is to realise and understand that credit card debt outweighs home loans/mortgages by more than double.
This credit card debt is money lent by china....china holds most of our debt. At interest !!
While China has saved ...we've spent and borrowed what they have saved !!
This is especially true for you in the US because this is where your US lenders have been getting their money from.
MY belief is that we should invest monies from network marketing into property and cfd's (this is a very aussie centric view point as our property market is strong) not so sure about US property market, i believe there are some cheap deals to be had though in your country.

there is a fantastic show on the BBC about this called "Addicted to Money" see here:
http://www.abc.net.au/tv/guide/netw/200 ... 203500.htm

Also here is the blog for addicted to money
http://www.davidmcwilliams.ie/addicted-to-money

see if this has aired in the US


In answer to your question..YES ...I believe your middle class is definitely shrinking - Your wealthy and your poor are expanding at the expense of your middle class.

[Sabita Swain Contribution Level: 1]

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[Shaun Hailes Contribution Level: 2]

monica odenwald on Mon Nov 09, 2009 1:48 am
I recently learned that 90% of middle class Americans are 6 digits in debt to live the all American dream lifestyle.

While I believe the people of middle class America are here to stay, do you agree that
saving and investing money needs to replace borrowing and spending money mindset we have, in order to keep what we brag as the best place in the world to live?

Any thoughts?

Monica

United Nations Development Report Listed Norway as best place to live in the world
http://hdr.undp.org/en/statistics/

[Larry Bilich Contribution Level: 2]

I recently learned that 90% of middle class Americans are 6 digits in debt to live the all American dream lifestyle.

While I believe the people of middle class America are here to stay, do you agree that
saving and investing money needs to replace borrowing and spending money mindset we have, in order to keep what we brag as the best place in the world to live?

Any thoughts?

Monica

Hello Monica,

My Rich Dad Mentor Robert Kiyosaki says the middle class are being wiped out. And the reason for that he says is the lack of financial education. I think he is right on!

The middle class and poor simply do not know the difference between an asset and a liability. The middle class and the poor keep buying liabilities that put them in Debt...A house, car, boats, playtoys ect...

People that are doing well financially buy assets that produce a positive passive earning cash flow. There is nothing wrong with borrowing money if your using it to make you more then what you borrowed or what the payment may be if its a financial investment earning you cash flow.

I have recommended to some of my friends and family certain books to read that would really help them for there financial future. Everyone of them are up to their ears in Debt with big time stress! But they would rather sit around night after night watching some mindless TV programs hoping tomorrow will get better for them. It won't! Nothing will change for these people until they take responsibility for their own financial future and get themselves educated.

For any of you out there right now reading this and your in deep Debt and stressed out to the max go out and buy first "Rich Dad Poor Dad" and read it. Then go out and buy "Cashflow Quadrant" and read that so you can understand what an asset is and what a liability is.

After that go out and buy Roberts new book "Conspiracy of the Rich" and read that to learn what has gotten us into this big financial mess millions have found themselves in at the moment and how to get out of it so you don't keep repeating the same stupid financial decisions that most people will keep making.

Bottom line is this...The world is changing. The days of a safe secure job are over as well as hoping the Government some day will be there to take care of you.

The people that are going to thrive in this new economy will be forward thinking Entrepreneurs who love learning new things and then go out and act on what they learn...

The middle class and the poor are watching way too much TV...

Wishing you all my best,

Larry B.

[Nathaniel Johnson Contribution Level: 6]

The problem is that the American Dream is derived from delusional thoughts of material happiness and gluttonous expectations that only credit and loans can suffice.

[monica odenwald Contribution Level: 3]

Thanks so much for your feedback on this.

I learned recently that is we paid ourselves $500.00 a month for the next 25 years we would have close to $700,000 saved up from the compound interest. This was the best news of my life!

I recently watched $15,000 slip through my fingers. My point is that as I am making money I am spending it. It is like I am trying to make up for years of living without; for years of putting myself and my dreams on hold...

What I learned is that now I know I don't have a solid financial education to save me from financial suicide. I worry about my downline.. (saving and investing)

Now that I educated my self, my fist $500 is going into a saving account...every month!

Anybody relate to this spending craze and then borrowing to maintain one's middle class existence?