Lessons Learned in 2008 will help Americans in 2009 Be Financially Smarter - He year 2008 will go down as one of the worst economic years in American history.  With the housing crisis, credit crisis, job lay-offs, and large companies going bankrupt, many lessons will be learned.

1)     You can’t spend what you don’t earn

2)     Live within your means, don’t place yourself into massive debt

3)     Your homes equity is not a money tree, it is your nest egg, don’t raid it

4)     Credit cards are valuable, but can also be corruptive to your personal financial health

5)     Learn to appreciate the job and income you have now, because many have lost everything

6)     Try to save at least 15% of your monthly net income and participate in a company 401K retirement plan if it is available to you.

In 2009, more people will also be moving away from credit cards and instead will be using debit cards connected to bank accounts or prepaid debit cards that force you to manage your finances.  With many consumers in the USA defaulting on their bank accounts in 2008 and being placed on the ChexSystems black list with banks, a card such as a prepaid MasterCard is the perfect option to continue to shop, pay your bills, and at the same time stay out of debt.