| How to Prosper in a Bad Economy |
| Articles - Savings |
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Everybody agrees that the economy is in terrible shape. And, everybody knows it will eventually return to its former strength.
Everybody agrees that the economy is in terrible shape. And, everybody knows it will eventually return to its former strength. The big question is, what to do until then. Here are some good tactics. 1. Meet with your supervisor to determine what new skills would make you more valuable. Then come up with a plan to acquire them. 2. Consider more formal education, including an online degree or Online certificate program. 3. Have an updated resume and cover letter ready at all times. Tailor them as necessary for each opportunity that presents itself. 4. Resist the temptation to sell off your stocks simply because they are down. Hang on to the good ones until they come back. 5. Talk with your broker about regular...perhaps monthly...investing. Seek out bargains; they are not hard to find these days. 6. Be aggressive about reducing debt, including car notes and mortgages. 7. Pay yourself first. Before you do anything else, take a fixed amount out of each paycheck and put it away until you have saved enough to cover your expenses for at least six months. Think of this strategy as an investment in your peace of mind. These seven steps will not only help you get through tough economic times; they'll help you come out financially stronger on the other side. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Alan Myers is an economics instructor and writer who contributes to websites on online degree programs and accelerated online degrees. |