Friday's Top 5 Economic Trends That'll Effect You Personally

I want to begin 2011 not by reflecting on the past, but looking towards the future of life as I see it. You’ve probably noticed I’m a technically progressive pastor/leader who keeps his ear to the ground. It’s my job to be a modern day Son of Issachar – one who “discerns the times & knows what to do.”  (1 Chronicles 12:32)

Whenever we go through a major change in our culture, it seems we have to adjust to ‘the new normal.’ And today is no exception — as the U.S. economy struggles to recover from the financial crisis, Americans are being forced to reckon with more ‘new normals’ than we’d like.

Here are some of my predictions for 2011 and years to come:

  1. New Normal is Here To Stay (at least for a while) – Thanks to the recent economic & global crisis, the days of easy credit and a lifestyle of hyper-consumption are long gone (at least for a while). We’re back to the days of our grandparents who saved ‘CASH’ for big-ticket items. What’s the message: STACK YOUR CASH. Think Post-Great Depression living!
  2. Financially…We’re On Our Own – The government’s broke. Your state is broke. Your municipality is probably broke. What does this mean? If they can’t pay their bills, where do you think they’ll get the money to pay them? YOU (think taxes)! Therefore, it’s time to take control of your finances and HERE’S where you begin!  Additionally, don’t buy things you don’t need.  Remember, if you can’t pay cash for it – put it down.   If you can’t afford it – walk away.  Finally, if it doesn’t make you or your family smarter – you don’t need it. What’s the message: Think wisely before you buy!
  3. Get a GOOD Education – 1) Go to school for something that you are good at; 2) Something that has good/strong medium-long term security (no offense…don’t expect liberal arts degree to do much); 3) Don’t go to law school because there are too many lawyers; 4) If you enter the teaching sector, the health professions, engineering, mechanics/trades, police officer, anything where there has always historically been a demand for in any society — go for it.
  4. Credit Card Companies ARE NOT On Your Side – Anyone who desires to take money out of my pocket is my ENEMY!   Therefore, pay off high interest debt first over investing.  A 20% credit card interest rate is still going to make you go more in debt than a high rate 12% mutual fund/stocks.
  5. Think Of Yourself & Family As A Business – Why?  Long-term unemployment appears as if it’ll hang around for a while.  With the jobless rate standing stubbornly close to 10%, it’s tough not to wonder if high unemployment could be a long-term fixture of the American economy.  With little to no hiring in the private sector, it almost seems like the only new jobs out there are — well, the one you create for yourself.

What do you think about my predictions?

Did I miss anything?

Is there something you’d like to add?

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Please note: I reserve the right to delete comments that are offensive or off-topic.

  • As a market research project manager I would say that you are dead on accurate with your trend report.
    What I also see in your trend is that one solution will be based on us coming TwoGether collectively, for some create and for others re-create structure and value. Getting back to the basics of family and twogetherness.
    Something that above once upon a time divided us.

    • Yanni,

      Thanks for taking time to read & reply to today's post. So, you're a "market research project manager," 😀 Now you know I need your help with getting our church to the next level & you just signed on to help. I'm encouraged that we're on the same page and I'm willing to do whatever to help people THRIVE rather than survive. Let's talk more about this soon!

      • Yanni Brown

        Pastor,

        No problem, I love brainstorming when it comes to marketing. For example, "The Urban Pastor" is an excellent marketing idea! Great way to stay current, relevant and connected, while sharing an abundance of knowledge and information.

        • clarencestowers

          Thanks again for responding & your kind words regarding The Urban Pastor. You are right…I use I as a marketing and branding tool. I am looking forward to talking to you soon. Take care and keep reaching for God’s best!

  • Yvette Williams

    Wow! Thanks Pastor…I am already in the process…of doing some of the things you mentioned…thanks for the affirmation…

    • Hey Yvette,

      Thanks for sharing and you're AHEAD of a whole bunch of people. Why? You apply what you've learned while most are content to just learning. Knowledge is power is a FALSE statement. Knowledge applied is power and don't ever forget that.

      Keep pushing!!!

  • Darius Williams

    This is good Bishop – real good. Ya know though, I think this has summed up the way a lot of people feel. I think people KNOW this stuff, but just can't articulate it. And I think that's key. You just gave a bunch of people tons of 'aha' moments.

    What's next though? I talk to people (at least once a week) that come to me to ask about my story and how I got started because they're in a similar position. They've gotten to the point where they've acknowledged what you've just said in this post. But they're lost on the next steps. It's like when someone drives and gets lost…they'll say, "I know my destination isn't in the direction I just came from…and I FULLY acknowledge that. But I just don't know which way to turn now to get where I need to be."

    What do you say to those people? What's your advice to people who want to create their own job, but don't know how? How do you encourage people to move forward with this next phase of their life after they've realized what you've said in this post?

    • Darius,

      Thanks for stopping by & responding! It's encouraging to know that I may have tapped into something that'll help people! As I mentioned in my post, I believe I'm a modern day Son of Issachar. My assignment is to discern the times & help people plan a strategy to THRIVE. My goal was to give 'aha' moments to ignite passion and help those who want it get it. I've discovered you have to plant seeds in receptive soil and unfortunately most people wait too late or have too much pride to ask. So, I'll just continue to preach it, blog it, twitter it, facebook it, & put it out there for everyone.

      Those who decide to take the next step, I'll certainly avail myself and work with them individually to help plot their course.

      Also, I blog about each trend and give practical steps. What do you think about that?

  • Darius Williams

    Sounds good! I know I'm not the only person being asked advice – so I'm often curious as to what other people say – you know, what nuggets of general wisdom you give to people. I typically make sure I mention things like passion, understanding supply and demand, being a jack of all trades while mastering just one (something I've dubbed as 'the French-cuff mentality'), and I'll typically finish with being artistic in charting the course.

    • clarencestowers

      Great advice & thanks again for sharing. I see we both desire to add value and the world surely needs more people in the world who give more than take. Keep doing what you do!