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The Value Of Money Today

Aug 26, 2008
The falling dollar is a big concern for all of us, it started with the mortgage crisis a year ago then moved to the real estate market. Then oil started climbing its way up and now the whole economy is in a complete mess.

Today for the average person to plan a trip to Europe, it's not easy. The euro is much higher in value than the dollar so everything that you use dollars for trip is double or even more. It's much cheaper for travelers from Europe to come to the United States to spend money because, for them, it's much cheaper.

Gasoline prices are higher than ever before and will likely only continue to rise. This creates a domino effect on everything else: food, clothes, accessories will all get more expensive for consumers. The bottom line for businesses will decrease as the margin for profit declines. In a nutshell, all the basic needs will be harder to obtain.

The loss of strength in the US dollar has caused prices to rise in the United States and reduce purchasing power for all of us. Some people say changes in the economy, like the ones we are living through now, happen all the time and no one can control them. But is that true or false?

Actually, it's a little of both. It's true because economies fluctuate up and down over time. It is just the nature of the beast. But how this variation in the value of your money effects you can be determined in large part by the financial plan you have in place.

Many people choose the services of a financial planner to help them plan out their financial course. Others prefer to take on the task themselves. Either way is fine as long as the you hire a good planner or know what you are doing if you tackle the challenge yourself.

In time like our present economical environment, people look back on the financial planning mistakes of the past and worry about their future. They are looking for different ways to plan their financial course of action that will prevent them from being in the same stressful situation in the future. Many are in fear of losing retirement and some even their homes. They look at how things might have been different with a little better planning.

In the period between 2003 and 2006, the real estate market was in a big bubble of high profits and exaggerated value. Everybody talked about it and many people based their financial future solely on their real estate holdings. Now, with the real estate market in a downward trend due to a market correction, many people find they owe more on their home than it would bring at a sale. They find themselves upside down in their mortgages and see their financial security disappearing before their eyes.

The weak dollar, as you can see, is the result of many mistakes that we've done as a nation. We have made mistakes in the way we planned and invested in:

* Real estate
* Mortgages
* Oil
* Technologies
* And many other things as well

Achieving success is not easy and it's harder to maintain it than it is to find it seems. If you have already found success, good for you! Now the task before you is to keep this success in your hands and you'll good to go.

But if you don't already have success in your life, it's time to get busy. There are some simple steps you can take to gain success in your life and secure it for the future. These steps are:

1. Develop a financial plan for you family and business
2. Work your plan 24/7 in every facet of your life
3. Know your plan inside out and master it
4. Set goals along the way to break the plan into manageable portions
5. Set time frames to accomplish goals in; this allows you to measure progress

It all sounds so simple, and it really is. But don't make the most common mistake of all: never assume that simple means easy. There is hard work involved in gaining success and holding on to it. If you follow these simple steps outlined here, you will definitely be on the path to success.
About the Author
Yanni Raz is a mentor for many in the Real Estate Mortgage industry. Yanni Raz tutors homeowners in California and helps some even save their homes. "I believe that we all need someone to help guide us in life, that's what I do"
California Mortgage Lenders
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