Good Strategies in Bad Times

By Alan Myers

There is no disagreement about the sad state of our economy. And, the experts unanimously agree that it will, at some point, bounce back.

The big question is, what to do until then. Here are some good tactics.

1. Ask your boss what new skills would improve your value to him/her. Then, immediately begin to develop them.

2. Consider an online degree or online certificate program which can make you a better candidate for a promotion, new job or career change.

3. Have an updated resume and cover letter ready at all times. Tailor them as necessary for each opportunity that presents itself.

4. Do not "panic sell" stocks or other good investments if you can afford to hold onto them.

5. Consider regularly scheduled investments in undervalued stocks or assets. Use only funds for which you will not have an immediate need.

6. Be aggressive about reducing debt, including car notes and mortgages.

7. Develop a regular savings plan and put away money until you have at least enough to live on for six months.

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. - 23196

About the Author:

Alan Myers is an economics instructor and writer who contributes to websites on online degree programs and accelerated online degrees.