It’s Friday evening, and you’ve just come home from work either with a pink slip or too much pain to go back on Monday. You’re in full panic mode; how do I support my family, pay my mortgage, buy groceries? Most likely you will emotionally shut down and all the forces of nature will attack you all at once. Your pain level rises, you’ll strike out at those around you and your feet won’t be able to move.
By: The Advocator Group
Just last week, The Advocator Group released an analysis of the impact of the debt ceiling impasse on the timely payment of Social Security benefits. The analysis highlighted the inner workings of the Social Security Trust Funds, including how funds are invested and redeemed for cash that is used to pay benefits.
As things currently stand, the United States government will lose its legal authority to borrow money on August 2, 2011. With this deadline drawing near, Social Security recipients are among the many groups of Americans who are wondering how this issue will impact their lives and more specifically, their monthly benefits. Should Congress fail to pass a plan to avoid default on the federal government's financial obligations, it is possible that benefits payments due in August (totaling $23 billion) will not be made on time.
Being in debt can be stressful, if not overwhelming. Sometimes it may seem like you will never get ahead. Just remember, you didn’t get into this situation overnight and you can’t expect to get out it that way either. By taking little steps each day you can dig yourself out of your financial hole and begin to create the stability your crave. In order to change your financial situation it’s important to learn about financial matters like managing a budget, paying down debt while saving for emergencies, and creating achievable financial goals. Getting started is not as hard as you think, thanks to the many free online resources available at Financial Literacy Month.
1. Knowing for sure it’s possible! Understand that you can be financially stable if it’s a priority for you (and it should be). Realize that any roadblocks you have about money are correctable. Others have done it and so can you.