When I was a kid, my grandfather would give me all of the loose change in the 70s colored green and brown ashtray on the nightstand next to his bed. He was never a smoker although the ashtray made it convenient to save every penny that he had before giving it to me. My grandfather was a man who truly knew what the value of a dollar was.

He and his family came to the United States from Italy seeking a land of opportunity and that's exactly what they found. Times were tough and there were numerous prejudices faced by immigrants to the United States. Some of those prejudices still remain today. My grandfather was able to survive the Depression and all of the hardships faced during the previous century and became very successful in the business world.

As a boy, my grandfather worked hard doing his job and his brother's job. In fact, he worked hard almost every day for his entire life. As the United States began to supply our European allies with weaponry during World War II, my grandfather founded a small tool and die company known as Form-A-Tool in Cleveland Ohio.

The escalation of the war led to the conversion of factories for military purposes. Tanks, guns, and ammunition became staple products manufactured in our country. Form-A-Tool produced a large portion of the small nuts and bolts necessary for these war machines. In this my grandfather made his millions. He paid cash for everything, never fired any of his employees, and made it a point to never owe anyone anything!

Being a millionaire is a common thing these days, but the steps to get there still require hard work and sacrifices. How many kids today would work their own job, let alone their brother's job? How many people in our country realize the true value of a dollar and how fortunate we are to live in the greatest country on the earth?

The sad answer is that not many do...

The burden of debt from irresponsible consumer borrowing and out of control government spending is reducing the real value of the American dollar in the world market. There are many factors and many people to blame, but a large portion of our national debt comes from you and me and everyone that has an outstanding loan in our country.

We are all contributors to the National Debt of America. Our entire country, from the blue-collar worker all the way up to our law-making government agencies is out of control!

So What Can Be Done?

Most of us can only look out for ourselves and our families, but some of us may be able to reach a few more people. We need to educate people we know about the benefits and security that come with financial responsibility. Just pick up the paper or check out the Internet headlines and you will see story after story indicating an economic downturn!

Major banks are practically going under from shady mortgage deals! CEOs are stepping down from major brokerage firms! You may not be a financial genius, but it doesn't take one to realize that the massive debt of our country is directly linked to these catastrophes.

The major point here is that we would not be in this economic downturn if the citizens of our country had been even modestly reasonable about their borrowing. More shame should be placed on the individuals handing out loans like candy and even more blame can go on our irresponsible government.

Rich or poor, financial irresponsibility hurts everyone and education is the solution to this problem. So educate yourself, educate your kids, and educate your friends because our financially irresponsible country just won't teach you, your kids, or your friends a damn thing about it.

Final Words

The remnants of my grandfather's tool and die company are still around today and much can be learned from his old saying, "Pennies make dollars." I have certainly learned a great deal from his example and I am lucky to have had such wise words instilled in me from such a young age.

Saving just a few dollars here and there will help you to stay afloat when trouble comes your way. It's ironic that trouble always seems to come when you least expect it.

Best Financial Wishes,

The Net Analyst