October 6, 2010

Incomes Headed Down

New demographic data shows that U.S. median income dropped nearly 3% from 2008 to 2009. Given the rise in unemployment since then, it's likely that the 2009-2010 change will be at least the same and maybe higher.

Incomes are headed down. Finding any job, much less a higher-paying one, is not easy these days. It's a helpless feeling, but we're not helpless. We do have the power to manage our money wisely and stretch every dollar we earn.

We must also teach our children to do the same. It's their best bet for surviving economic difficulties in their lives someday.

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