Surviving the Trading Race
2009 will most likely be a new and frightening year for most of us. The economy is in tatters, insurance companies are changing the rules, and the end is so very far away. While we do have a new president that promises to be more than just an act, he's still getting a feel for the position, and mistakes will be inevitable along the way. Simply put, we may be in this position for a while. But we'll recover, I believe.
What does this financial recession mean for the average US citizen? The most glaring repercussion of the financial crisis is the fast drop of available employment. Of course, unemployment is expensive. If we are used to a particular spending habit, old habits are hard to break, and we may find ourselves out of money before getting a new job.
I don't need to say it, but frugality is the word for these troubled times. Cutting back costs on things that aren't really necessary will help, but try to keep a few expenses to keep you happy and sane. As for the funds you have saved up, set aside what you can for mortgages and other necessities, and the rest may be used for minor investments.
You may be asking; what possible investments can one go into in these times? You don't have to be an expert broker to know that most stocks are really low in the stock market. But even though prices are way below and may still drop, you'll notice that things are a bit more stable now than when the crisis began. And when recovery starts, and it's inevitable, cheap stocks of today will steadily push upwards.
Understandably, the unfamiliar stock environment means that things are very hard to predict. In the end, what's important is to plan your steps, and then make them. Everybody did stumble in the race, but if you stop to groan at your wounds, then you will still get left behind. - 23223
What does this financial recession mean for the average US citizen? The most glaring repercussion of the financial crisis is the fast drop of available employment. Of course, unemployment is expensive. If we are used to a particular spending habit, old habits are hard to break, and we may find ourselves out of money before getting a new job.
I don't need to say it, but frugality is the word for these troubled times. Cutting back costs on things that aren't really necessary will help, but try to keep a few expenses to keep you happy and sane. As for the funds you have saved up, set aside what you can for mortgages and other necessities, and the rest may be used for minor investments.
You may be asking; what possible investments can one go into in these times? You don't have to be an expert broker to know that most stocks are really low in the stock market. But even though prices are way below and may still drop, you'll notice that things are a bit more stable now than when the crisis began. And when recovery starts, and it's inevitable, cheap stocks of today will steadily push upwards.
Understandably, the unfamiliar stock environment means that things are very hard to predict. In the end, what's important is to plan your steps, and then make them. Everybody did stumble in the race, but if you stop to groan at your wounds, then you will still get left behind. - 23223
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posted by X - Men @ 2:50 AM
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