You may not see it staring you directly in the face, but it has started. While Baby Boomers are preparing to begin drawing on Social Security and corporate retirement benefits in record numbers, younger workers are saving less and borrowing more than ever.

In the background, though definitely not going unnoticed, corporations are already cutting back on pay, benefits and jobs in their attempts to fund a projected 75 million new retirees' benefits over the next fifteen years and stay competitive in a changing world economy.

All this up to a bleak financial future for today's working middle class. With interest rates on the rise, families are taking on as much debt as they can handle immediately and will soon find themselves paying credit card companies more than they can afford. Their savings will likely dwindle further, and money for necessities like health insurance and reliable transportation will be even tighter.

Forget the image of the idea; one-income family – it seems that in the future many parents will be working more than one job just to keep the creditors at bay and food on the table.

Those are the grim predictions of personal finance expert Gene Jolley, whose company, Kingdom Financial Principles, LLC provides tools, training and information to people trying to rid themselves of debt.

It's because of those predictions that Mr Jolley is determined to start a grass-roots effort to help educate people on the dangers of debt and the looming financial crisis younger workers are facing.

“People in their twenties and thirties can no longer depend on having the same benefits or pay as the Baby Boomers have enjoyed,” Mr Jolley stresses. “The working poor are so busy living pay check to pay check, trying to keep their heads above water and desperately struggling to keep their families strong and connected, they don't realize they are just giving away any future they could have to very greedy creditors,” she said. “It can all turn around, but there has to be an awakening in the working middle class before it is too late.”

In a reflection of this, Mr Jolley has launched an all-out attack on the credit industry, cautioning consumers about the real cost of debt and teaching people from all walks of life how to budget, pay off debt for good and start saving.

His Web site, www.SoLongBills.com, is a resource of articles about the problem of debt, tips on turning the table on your financial situation, warnings about shady debt consolidation companies, and personal financial planning how-to's.

Jolley's Money Matters newsletter and regular press releases serve as an outreach to people struggling with debt.

“Not so long ago, I was on the other side of the fence,” Mr Jolley said.
“I know how it feels to be downsized out of a job and lose your home, and I also know what freedom there is once you stop living above your means. Now I want to help others do the same thing. The future can hold financial security for today's working middle class if they start working toward it now.”

About the author:

Phil Wiley is the author of the best selling book Mini Site Profits www.minisiteprofits.comand writes the free weekly Letter from Phil at www.ozemedia.com

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