I Support a Bailout Plan

I can't watch the news or listen to the radio for more than 5 minutes without hearing about the current state of our economy! Gas prices are high, real estate is slow, banks are closing, foreclosures and this $700 Billion bailout that people either strongly appose or support.

My opinion: I strongly support a bailout!
But I'm not talking about $700 Billion Government Bailout, I'm talking about each household in America putting together their own personal economic bailout plan together and bail themselves out of bad personal financial decision making! Here's the thing, no matter what the government decides to do, government bailout or no government bailout, at the end of the day you still have to control your own personal economy! YOUR HOUSEHOLD BUDGET!

Here's a Personal Economic Bailout Plan:

Money Step 1: Get your financial house in order
Money Step 2: Save $1000 for an Emergency Fund
Money Step 3: Payoff all your consumer debt
Money Step 4: Build Saving to 3-6 months of living expenses
Money Step 5: Save 15% towards Retirement
Money Step 6: Save for College
Money Step 7: Payoff your Mortgage


So my question to you is: These type of economic cycles come around about every 10 years, what are you going to be doing different financially when/if this happens again?

Live Debt Free & Prosperous!