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Spain Debt

• Is it a valid concern that the world’s 11th largest economy could bust? –> Not the same scenario as Greece
• Spain’s situation is manageable unlike Greece’s
• Is it contagious? What are the effects on US investments?
  • Like Asian debt crises, other economies bounced back.
  • Things insulating US from Europe:
    • Job losses in Europe come back to US.
    • Gasoline prices come down because demand for gas falls in Europe.
    • Natural gas production brought back to US

Play of the Week: The Household Budget

        Things to include:                                                                 

                                    1. Housing: Mortgage/ Rent + Taxes

                                    2. Insurance

                                    3. Car Payments

                                    4. Entertainment

                                    5. Personal Care Cash

                                    6. Education & Self Improvement/ Child Care

                                    7. Debt Payments

                                    8. Vacations & Holidays

                                    9. Charitable Contributions

                                    10. Savings

Be generous on estimates

Live within your budget. If you do not have enough income, make cuts. Do not pretend your income will drastically change.