Personal Finance

While we at the Rio Grande Foundation focus a vast majority of our time and attention on public policy and how it impacts average New Mexicans, personal finance and money management are important as well. This is an excellent blog on personal finance with a New Mexico-specific focus. There is also an excellent book called “Common Sense Economics” that was written by James Gwartney, Richard Stroup, and Dwight Lee that connects the worlds of personal finance and economics.
The fact is that too many Americans don’t understand economics at any level — as it impacts them directly or in the broader policy context — that’s why Americans are paying an average of 18.9 percent interest on credit card debt of $60 billion.
With the average American mired in debt, it is no coincidence that the federal government, which is run by people who get to spend money that belongs to others and largely free of personal repurcussions, is in debt to the tune of more than $8 trillion.