My gray matter remembers 25-cent/gallon gasoline, $10,000 new homes and full-size
sedans under $3,000.
Folks today buy gasoline, houses and not-so-full-sized sedans at prices about ten times what prices were in 1966.
This said I feel no pain whatsoever paying $2.50 per gallon. Adjusting for 52 years of inflation, this is a fair price for motor fuel.
As I look back over my shoulder, I also realize wages are today about ten times what they were a half-century ago.
The price of motor fuel is not a function of supply and demand; it’s a consequence of speculation on FUTURE supply.
So, you may ask, “Why don’t I have any money left at the end of the month?” How about some saving grace?
The savings rate from 1959 through 1970 was nominally 10%. Between 1970 and 1976, the rate hovered higher, around 13%. The rate dropped back to 10% until 1985 when Americans began saving less and less. Now, in 2018, the savings rate is a miserable 3%. Source: The Federal Reserve https://bit.ly/2KDevsR
Americans forfeit their futures to satisfy a lust to live for the moment. Credit ‘Karma’, indeed.
Until the Second Coming of Jesus Christ, there will be economic ups and downs. Count on it.
What’s a maxed-out-credit-card holder to do?
Proverbs 6:6-8 holds the answer.
“Take a lesson from the ants, you lazybones. Learn from their ways and become wise! Though they have no prince or governor or ruler to make them work, they labor hard all summer, gathering food for the winter.”
The ant knows enough to save for dry spells.
May I introduce you to your new best friend?
Dave Ramsey has been where you may be now: broke and deep in debt. Mr. Ramsey dedicates his life to helping his fellow Americans move from a debtor to a cash-and-carry saver.
Sign up for Dave Ramsey’s FREE 7-day guided email journey and the weekly newsletter that will show you how to get started, beat debt, save for the future, and take control of your money.
Use this link to his webpage, enter your email address and benefit from his wisdom: https://bit.ly/2J3n6Be
The peace of a debt-free life beats the stressful life of indebtedness.