Should you be afraid of your debit card?  What a stupid question! Its just a piece of plastic that allows you to access your checking account – right? While you should not have to fear your debit card, you may be better off doing just that.

When it comes to how you spend the money you and your family have, one of the easiest and fastest ways to unload it is using that small piece of plastic. Studies have shown that we as people, and use plastic and wind up spending more than what we should. In fact, is that not what a credit card does?

A debit card, while does not directly add to your debt, can get you in big trouble. For instance, you go to the store to purchase the single item on your list. Just before you make the purchase, you “browse” the sale items and there is something else you think you really need. Never mind the fact that you only came for the one item, you convince yourself that you can afford the purchase of the second item because the money is in the bank and you have your ol’ trusty debit card.

Technically, you are right – the money is in your account. However, the extra money you just spent was part of the car payment, or money for the electric bill, or worse – money for the food you will need this month. Now you are behind and how will you ever make it up to meet those obligations?

Plastic, credit or debit cards can and often do get people in trouble – including those who say that they live on a budget. Debit cards, just like credit cards, will allow you to lose control.

There is only one way to stay on track – cash!

It has happened again – my car’s check engine light is on.   Why is it that this light comes on at the most inconvenient times?  What can it be this time?

This is the case with many of you in your personal finances – your financial check engine light has come on.   The ‘check engine’ light comes on and the warning sign has now been posted. What should you do? Get it checked out!

Many of you have been living with the check engine light on for a long time. Ignoring the light does not help in a resolution.  As a result, you are not making the progress in your finances that you need to.   What will it take to fix the problem?

• No or little money for retirement – Retirement is getting closer.  Without getting investment money in your account early, you stand the chance of your golden years being less than golden!
• No emergency savings – The next emergency is right around the corner.  Just this week I have heard from people who have had emergencies that no one would ever want to go through, but they happened.  Be prepared with a solid emergency fund and know you are protected as the storms come your way.
• Too much debt and no plan to reduce – Trying to keep the plates spinning when it comes to your debt.  Not having an aggressive plan of attack can be one of the reasons your check engine light is on.  Playing with debt is like playing with snakes.  Get rid of it.
• College is around the corner - Are you prepared for the expenses that the next level of education that is quickly approaching your family?  Putting money away now will lessen the impact of those expenses when they do hit.
• Secret spending – Are you not being honest with your spouse?  How is that helping your relationship?
• Not living on a plan – Are you just existing on cruise control?  You have no plan and maybe did not know you could have a plan and as a result you are just cruising along not making any solid progress.

When the check engine light comes on you need to get it checked out.  Things may be going well, or it seems to be, but things may be happening under the hood.  Fortunately, when the light does come on it is a clear indicator that you need to look into the problem.  Get it checked out today and get moving on the right path!

I have. Really, how much of this can go on without somebody getting past their elitist attitude and posturing to do what is right financially. On the news tonight, I hear George Stephanopolis and the White House reporter trying now to now smear the S&P organization. It was this same organization who warned all of us two weeks ago that spending had to be reduced on the federal level or face a downgrade.

In one of my last blogs I asked if Someone Who Gets It Would Please Stand Up. Unfortunately, collectively no one stood up and today the American worker and investor is taking it on the chin again. Frankly, I have had enough.

Senator Marco Rubio (R-FL), recently spoke on the senate floor to point out what the issue is. What I saw and heard was a question from former presidential candidate John Kerry (D-MA) that simply challenged Rubio’s suggestion that the debt situation has not been take seriously. What the senator, and no other senator I heard, did not challenge was that the U.S. spends $300,000,000,000 per month ($300 billion). He went on to say that the U.S. revenue intake is $180,000,000,000 per month ($180 billion). The U.S. then borrows $120,000,000,000 per month (120 BILLION) each month. As a federal government, we BORROW around 40% each month to meet our bills. UNBELIEVABLE!

I work with people and their finances who are much more financially savvy than those we have elected to represent us. THEY DO NOT GET IT in Congress.

For two years now your government has function on NO BUDGET! How do they no what we are to spend?

Today at the barbershop my barber and I watched video of London burning. This video was in between reports that the stock market crashed today. We both wondered about those riots in London and asked each other – is that what it is going to take here to make the financial changes we need to make in this country? It should not, be but what will it take?

I have seriously had enough. What about you?