Frugal McDougall, A Rhyme For Our Economic Times

[Crewleader]

Economics / Recession 2008 - 2010 Jul 23, 2009 - 06:47 PM

By: Mike_Shedlock

Economics

Frugal McDougall worked very hard,
Bought things with cash and not credit cards,
And when it came to the things that he bought,
Things that he needed were all that he sought.

Once he was sure that his bills were all paid,
The money left over was carefully saved.
You see in the future he hoped to retire
And knew very well what that would require.

His neighbors were foolish and laden with greed.
They focused on wants instead of on needs.
They went out to dinner about every night.
When you’re middle class that’s one of your rights.

When they got their paychecks they spent every dime.
Having money left over would have been a crime.
Their credit was pushed to its uppermost limit,
When it came to debt they were very deep in it.

http://marketoracle.biz/Article12255.html

[discocrisco01]

1. Saved My Money

I just avoided the real estate meltdown like a smart person. Never bought a house because I knew the market collapse. Kept my personal saving in low-yielding savings accounts. Came out ahead of the game. Stayed with my parents until 32.5

Moving out next year but into a sober home even I though got a year clean. Cheap, quiet living and I will rely on public transportation to get around.