We have all heard (or should have heard by now) how we must all get serious about eliminating personal debt, cutting spending, increasing savings, and being smart about investing those savings... and yet few of us actually act on this vital advice.

One of the reason for this tragic passivity is that we get hypnotized by the media and government inaction into a false sense of security, and fail to see the consequences. We usually reason that financial markets have always a way to right themselves after a while, and that we will be able to ride out the next crisis as well.

Unfortunately, this is no longer the case, and all the signs of an enormous financial crisis looming on the horizon are clearly present for all to see. No single event will precipitate the crisis; rather it will be the slow and inevitable compounded effect of the approaching exhaustion of traditional energy sources (such as gas and oil), pension funds bankruptcy, global warming and its economic and ecological effects, the ever-increasing national deficit of most nations, the unsustainable monetary system of many nations, the unwillingness of most developed nations to reduce spending, the lack of savings, the renewed arms race... which will plunge the world into economic and social chaos.

As early as half a century ago, Paramahamsa Yoganandaji in his talk "World Crisis" had already warned his disciples in these strict terms: "There is a world revolution going on. It will change the financial system… How can you meet the world crisis that is coming? The best way is to adopt plain living and high thinking. Unless you make drastic changes in your living habits immediately, you will be rudely surprised; conditions will change in a way you cannot imagine now. You still have food and clothing, even luxuries, that people in other nations do not. So it is best to accustom yourself now to simple living. Choose a dwelling place that is adequate, but not larger than you really need, and if possible in an area where taxes and other living expenses are reasonable. Make your own clothes; can your own food. Grow your own vegetable garden, and if feasible, keep a few chickens to produce eggs .... Keep life simple and enjoy what God has provided, without seeking false and expensive pleasures."

To help us shake off our hypnotic state and start taking action NOW, we need to understand a little more clearly what money is and how it is created. I highly recommend watching the excellent little animation feature called Money as Debt by Paul Grignon.

And here are a few other inspiring quotes by Paramahamsa Yogananda:

Spend less and have more, by doing away with luxurious habits. From your earnings put aside as much as possible, so that you can live partially on the interest from your savings, without having to dip into the capital.
- Paramahamsa Yogananda, Man's Eternal Quest

Millions of people think that all wealth comes from banks, factories, and jobs, and through personal ability. Yet periodic great depressions prove that there are divine laws, aside from known physical laws, that govern the physical, mental, spiritual, and material phases of life, Strive every day to be healthy, wealthy, wise, and happy, not by taking away the health, wealth, and happiness of others, but by including their happiness and welfare in your own. The happiness of individuals, of family members, and of nations depends entirely upon the law of mutual cooperation or unselfishness, and on living up to this motto: "Father, bless us, that we may remember Thee always. Let us not forget that all blessings flow from Thee."
- Paramahamsa Yogananda

So meditate, arm yourselves with peacefulness, and start reducing that economic footprint! This is also Yoga.