How far will your savings go?
If you don’t have any money put away in savings you’ve got to take a good hard look at some scary statistics. According to a national survey one in three Americans wouldn’t be able to make more than one month’s rent if they suddenly lost their jobs. This is true for upper-class people as well, they have higher payments and little saved.
In addition, 10% said they wouldn’t even be able to make one month’s payment without their next paycheck.
This is a scary reality folks and one that’s not likely to change any time soon. We all know the signs that lead to foreclosure and no one is faulting anyone in this country right now for losing their jobs. And I know most of us out there can’t afford to start saving now. But it’s really hard when you see numbers that you can’t change.
You’ve got to do what you can to keep your chin up. There are programs out there that can help even those of us without jobs to stay in our homes. I encourage everyone who is worried about the future to contact programs like EHLP and see what they can offer you. We’re going to make it through this recession and our economy is going to bounce back even stronger than before. But I want all of us to make it through safely so be sure to reach out to those in need in your community. Lend a hand, donate to charity, and if we stick together we’ll be set to take the housing market by storm in the coming months.
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Steve
