Recession-Proof Your Wallet. Understanding Finances In An Economic Depression. TEMPLATE Source: PowerTEMPLATES Category: Financial. Financial Crisis Components. Failure of key businesses. Declines in consumer wealth. Substantial financial commitments incurred by governments.
Understanding Finances In An Economic Depression
Failure of key businesses
Declines in consumer wealth
Substantial financial commitments incurred by governments
Significant decline in economic activity
Between 1997 and 2006, the price of the typical American house increased by 124%
Category: Real Estate
peaked in early 2005
started to decline in 2006
may not yet have hit bottom
Limits how credit card companies can charge consumers, but does not include price controls, rate caps, or fee setting
Cardholders deserve protections against arbitrary interest rate increases
Cardholders who pay on time should not be penalized
Cardholders should be protected from due date gimmicks and misleading terms
Vulnerable consumers should be protected from fee-heavy subprime credit cards
Congress should provide better oversight of the credit card industry
How Did I Get Here?
Where Do I Go From Here?
Where Am I Now?
Determine Spending Habits Over Last 2 Years
Access Current Financial Status and Wealth
Create Realistic Long Term Financial Goals
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