Four-Letter Word

During the Great Depression, empty pockets turned inside out were referred to as “Hoover Flags,” named after the president blamed for the worst economic downturn in U.S. history. Though, many will argue there were multiple reasons outside of his control that contributed.

And no, I am not about to delve into the correlations present with the current administration (though, I have some opinions there as well). Nope. I’m talking about the Hoover flags of your own doing. After all, personal accountability, though a concept that often seems to be fleeting these days, is the root of most of the personal finance problems we see in the typical home. Sure, your neighbor has a couple of flashy cars and a brand-new boat, but have you seen his books? Often, he who has the most toys also has the most debt.  

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