Posted in Finances

Are You In a Personal Recession? - By Steven Ciantro

Steven Ciantro is a certified credit counselor, a management representative of American Debt Enders, and a former finalist in Inc. magazine and Ernst and Young’s Entrepreneur of the Year contest. He is also a Talk-Show Radio Host and successful published songwriter and musician (his album January Tyme can be heard on YouTube), the inventor of a patented medical device, a public speaker on debt issues, and the official debt expert for Motivational Speaker Gail Kasper’s Top 1% Club


Is there a second national economic recession coming? This has become a major topic of business commentators both writers and television analysts, otherwise known in my own personal terminology as "the talking heads". No matter who you speak to or listen to everyone has an opinion. 


Since there are only two possible answers to the above question this means that only half of the opinions can be right. In fact, the odds that your guess has the same odds as the experts might be somewhat disheartening. Here are some facts. 


1.  Americans taken as a whole have virtually no savings. It seems as a whole most of us have not learned the needed lessons from the first big dip that we still have not recovered from.


2.  We are still in the midst of a major housing drag. Forget the experts, drive around any ordinary middle class neighborhood and evaluate for yourself the number of increased for sale signs and the longer time they stay up despite record low mortgage interest rates and low prices.


3.  In Great Britain, forecasting our own problems about 18 months in advance are showing credit card charges (unsecured debt) by average consumers are increasing again.  Here in the US, credit card spending and student loan
debt set a new record high. Yes, Americans are spending with money they do not have, again.

4.  The cost of energy,  effects everything overall and continues to rise significantly.

For the sake of our personal economy - keep yourself solvent no matter what course economic events take place.  This means it is not a good time to be spending extravagantly and by the way when is it ever? Now is a time to get your personal house in order. If you are carrying high unsecured debt levels you need to now consider seriously paying them down. If you are just making minimum payments, you need to strongly consider Credit Counseling, (links to: and perhaps enrolling in a debt consolidation or debt settlement program. Whatever you do, you need to stop making new credit card debt. Why? Besides the fact that you will empower yourself to live a debt free lifestyle, it will also allow you to weather any economic storm which may come our way.  The simple fact of the matter is that there will not be any government program to help you no matter who is in office. The rules of proper money management doees not change. The biggest basic rule is never spend more than you have and always know what you have.


Do not think you can depend on anyone else. You must learn to live a debt free life -  now. You might want to start by learning to budget (links to ) and figuring out where your money is going. You can use this free budget calculator to help you do this. Start thinking differently. Do you really need the big screen TV? 100 cable channels? By taking a sober view of your finances you will not have to worry which way things go because you have already been proactive in reducing your debt.     


If you would like to subscribe to the FREE Credit Counseling Newsletter, simply leave your email address here. We never share your information. If you have a debt problem and need free credit counseling, feel free to contact me at or 877-766-246. 


ABOUT STEVEN CIANTRO: Steven is well suited to advising on debt issues. Growing up from humble beginnings, he personally made a fortune from nothing in his earlier years and lost it. The experience completely altered his value system. It seemed every professional debt expert Steven and his wife spoke to wanted to put them into even more debt to help them. It took years for them to untangle the financial mess, which they ultimately did on their own, gaining a tremendous education in the process. However, the experience left Steven with chronic kidney disease, which he still battles today. In 2004, Steven found work at a national nonprofit credit counseling company. After six months, he became regional manager; Steven had found a new calling. He is in the unique position of not only being a true expert on debt relief issues, but also understanding firsthand how oppressive debt can be. In 2006, American Debt Enders was started as a company that would offer free credit counseling; it was among the first companies in the nation to use the business model of offering multiple debt relief programs and solutions under the same roof.


This article is courtesy of the Top 1% Club and the Top 1% Club Mentor Gail Kasper. For additional information on Gail Kasper, her television appearances and speaking engagements, please visit