Moving On With 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.
Needless to say, practicing a little frugality is in order. Try to cut back on things that are not wholly necessary, while keeping a few expenses that will keep you happy. As for the cash that you have saved up, set aside what you can for mortgages and other necessary expenses, and use the rest for minor investments.
What possible investments in this recession, you may ask? You don't have to be an expert broker to deduce that most stocks are at a low. Even though prices are down and may continue to go down further, you'll notice that is a bit more stable now than when this whole crisis started. And it's inevitable that recovery happens, and when it does, cheap stocks of today will have nowhere to go but up.
The unfamiliarity of the stock environment, of course, means that things are a bit chaotic. At the end, what's important is that you plan what you're going to do and stick with what you planned out. Stumbling is something everyone goes through in a race, but if you stop and groan at your mistake, you'll still get left behind. - 23196
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.
Needless to say, practicing a little frugality is in order. Try to cut back on things that are not wholly necessary, while keeping a few expenses that will keep you happy. As for the cash that you have saved up, set aside what you can for mortgages and other necessary expenses, and use the rest for minor investments.
What possible investments in this recession, you may ask? You don't have to be an expert broker to deduce that most stocks are at a low. Even though prices are down and may continue to go down further, you'll notice that is a bit more stable now than when this whole crisis started. And it's inevitable that recovery happens, and when it does, cheap stocks of today will have nowhere to go but up.
The unfamiliarity of the stock environment, of course, means that things are a bit chaotic. At the end, what's important is that you plan what you're going to do and stick with what you planned out. Stumbling is something everyone goes through in a race, but if you stop and groan at your mistake, you'll still get left behind. - 23196
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posted by X - Men @ 3:22 AM
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