I don't mean to be the skunk at the church picnic, but it's time to listen to me lecture you for a minute.

Last year, Americans as a whole didn't save a nickel and in fact, the national savings rate fell into negative numbers. We not only didn't save money, we removed money from savings.

This year we've hit another dubious milestone. The majority of car loans being issued are over 5 years in length. In fact, nearly 55% of new car loans and 40% of used car loans are for 60 months or more.

Sounds to me like we are buying more car than we can afford, stretching out the payback to get an affordable monthly payment.

This is very bad business, particularly if you want to sell the car or trade it in before the loan is up. You'll find yourself "upside down" owing more than the car is worth. Remember, cares are depreciation assets.

And if the car is totaled in an accident, your insurance won't cover the entire loan.

It is time to exert some discipline in spending.