Decrease: Is the U.S. no longer livable?
Hello Financial Healers,
I was flipping through articles last week and stumbled across an interesting study. It explored the shrinkage of apartment sizes across the United States.
While certain parts of the country experienced larger apartment sizes (like Tuscon and Manhattan), larger West coast cities like Los Angeles and San Francisco took a hit.
I see this as a microcosm of the overall wealth crisis in our country. As more and more families lose wealth, the demand for smaller living spaces rises.
Now, there’s nothing wrong with living in an apartment or condo. There are times when this is the best option.
But, I want to open your eyes to the possibility of owning your own home, debt-free, and being in charge of your property. That’s the goal Dawna and I held onto when we were young, and it’s a dream we are grateful to experience today.
The death of home ownership
As a father to two young men who are starting families, it breaks my heart to see how difficult the housing market is. When Dawna and I were in our thirties, purchasing a home seemed feasible. Today, in certain parts of the country, being a home owner feels like a luxury reserved for the wealthy.
Now, before I continue, I want to remind you: don’t be discouraged. God is still in charge. His grace is bigger than any poor housing market or economy. Recessions come. Recessions go. We may be in a crisis, but it’s not the end.
What you can do
Some economists say inflation will last well into 2024. Others proclaim its effects will linger for 10 years. Either way, get smart with your money.
Don't rely on credit cards. Or the Federal Government. Trust in God. Ask Him what you can do to strengthen your family’s wealth. Today.
Some steps I recommend…
Number one: pay off debt.
Two: cut luxury spending (items you can live without).
Three: say no to trips/vacations that sound fun, but can be delayed.
(Personally, I said no to a trip to San Diego with my wife and kids because I knew it would carve too much into my work. I’m devoting 1-2 years to really scale my business, so my time is valuable. Although this trip sounded fun, I decided to pass and let Dawna enjoy the trip.)
Four: keep track of your numbers. Here’s a simple method outlined by an entrepreneur I follow on Twitter: 👇
Knowing your finances is the first step toward Money Health. If you need to cut back on spending, realize it’s just temporary. Stay ahead of the game now and set yourself up for success once the economy turns back on.
P.S: if you want to meet with me personally and build a plan for your finances, schedule a Financial Healing Breakthrough Session with me. (Be sure to select Prosperous Soul Training [education and secrets for biblical success] when filling out the form.)
As always, thanks for reading.
God bless your Prosperous Soul,
Stephen K. De Silva