These days everybody is wondering if the economy has hit bottom?

It all depends on how you look at it.  There are some signs that things are improving and it is hard to imagine anything lower than witnessing one of the biggest companies in the world going bankrupt.  Yes, everything is pointing to GM going into Chapter 11 bankruptcy protection on June 1^st.  I don’t think anybody would have expected this giant to go under if you had asked him or her a year ago, but it is happening.

As the financial world is tumbling down around us the question is how is your financial situation?  Is the fear having better of you?  If a giant like GM is failing what does that say about you?  Not much I say.  They dug their own grave with their decisions.  The only question you have to ask is have you been digging yours?  Where are you with your finances?  What are you doing to help yourself?  There are so many things that we can do to help ourselves.  The first thing is to acknowledge that we do make mistakes.  The quicker we are able to learn from our mistakes the faster we recover.  We are not like GM, we have the ability to adjust fast is much greater.

The economy always improves again, or like my 95-year-old aunts says: “You just hang in there and it comes back.”  She should know having lived through the rollercoaster of the Icelandic economy.  With all the economical ups and downs she has had in her life, including a depression, world war and oil crisis, and personal downs, she is living a life of abundance.

Love and peace,

ElinAnna

The House rejected the rescue plan!

A new plan has arrived and the Senate approved it.

There is a plan in the process and maybe the House will approve it.  Maybe it is a good one, or maybe not.

What can an underearner learn from this?  A plan is easy to make and to reject.  We often make plans and then just as quickly we change them.  What do we want to do and how?  What it comes down to, there is no plan at all.  We keep on doing the same old thing, because it is difficult to make a decision on what to do differently and stick to it.  We don’t want to have to do things differently.  All we want is things to turn out different. 

The reality is that nothing will change until we start to change.  We have to start to make a different choice and follow through with it.  Making the decision is easy compared to what follows.  First we have to come up with a plan. That plan has to spells out how we are going to do things differently.  What is going to be different now with this plan? The same old, same old, doesn’t work any more if we want different results.  The plan has to allow us to face the truth about our finances.  And it also has to allow us to take a different route.  This route has a final destination.

This sounds so easy, how come we haven’t done this.  The answer is; we humans are creatures of habit.  We do not like to do things different or do what we are used to do differently.  We like to do the same old thing and we want to get different results.

Is that maybe the reason that the House rejected the plan?  Was it too much the same old thing or was it too different?

To get different result we must do things differently.

The funny thing is that when we are down and have nowhere to go, then the situation becomes desperate enough for us to change.  There is no choice and therefore we get the new result.  That is what is happening with our economy today.

This is a big, big mess.

Love and peace,

ElinAnna