For Better or Worse

Is your economic situation better or worse than last year? I'm having a lot of trouble answering that question. Luckily, my husband and I still have our jobs and even my teenage daughter was able to procure employment for the summer. In that aspect, our situation is the same as it's always been. We are solvent but, a small setback could lead to a total annihilation of our small savings and shrinking retirement funds. It's a good thing we are adrenaline junkies and like living on the edge.

We have three cars. Two bit the dust in the past month. (P.S. We just paid off all of our vehicles a few months ago.) One is not salvageable so we decided to try the cash for clunkers deal. My husband went to the GM dealer and found a nice van that he could use. It's new, nothing special or added to bring up the price so I thought it would be affordable. The darn thing was $29,500!! I almost passed out in the parking lot. However, GM took off a few thousand for this, a few thousand for that and even gave us money for the clunker! We got $3500.00 for cash for clunkers which brought the price to just over $20,000. Good Deal! I was happy. I will be even happier in another 6 years when it is paid off.

I think the cash for clunkers plan should have been instituted before our spectacular government gave the auto industry their big handout. The cash for clunkers promotes business for the GM Corporation but also the auto dealers, thereby creating revenue for local governments, and benefitting the citizenry so we can purchase new vehicles and the environment by creating a desire and means for obtaining fuel efficient vehicles. I don't know if you know this, but the $4500.00 is available when you buy a vehicle that is a certain percentage more fuel efficient than the one that you have. GM has a web page to figure out if your present car and the one you want to purchase are eligible. Go to http://www.gm.com/cash-for-clunkers to see if the car you want and the car you have are eligible and how much you will receive. The more fuel efficient the car purchased is, the more money you get. I highly recommend a new GM car. Do your civic duty (if you can) and support the American economy!

I guess we are better off than a year ago because last summer we could not afford a $29,500 car.