Sign of the Times
A recent Time magazine cover story touted "10 Ideas That Are Changing the World." Number 8 was "The New Austerity." The magazine explained that there have been many times throughout history when the demise of the American consumer was predicted. But now we may be witnessing the real deal, with people resorting to such radical practices as living within their means and paying down debt.
Matt's View
It's a powerful indicator of what a consumption-driven culture we live in that spending less than we make would be seen as a sign of austerity, which, by definition, is "an act of self denial." But it also makes me curious: how have your spending habits changed in an era of high gas prices, falling home values, and a shaky stock market? Please write to me to let me know.
Managing Money by The Book
- "Be joyful in hope, patient in affliction, faithful in prayer." - Romans 12:12
Recommended Resources
- Alexander, Who Used to Be Rich Last Sunday
- Last Sunday, Alexander was rich. His grandparents had given him a dollar. But when there's gum, and toys, and other temptations all around, it isn't easy for a young child hang onto a dollar. This classic story (first published in...…Read the rest
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