Whether talking to friends and family, listening to the radio, looking at TV or reading magazine or newspaper, we hear the same message which is the economy is bad. I know that you are sick of hearing about the bad economy. Have no fear because we have developed steps that will help you work through these difficult times. Let’s begin.
Our first step is to stay optimistic. Realize this situation is temporary and will be short lived. There are positives in every situation. Most likely you and your family are not being directly impacted at this time. Take a look at your personal situation and be thankful for what you have in your life. You are the thinker that thinks the thought that makes the thing. What you think about you bring about. Think about good things and prosperous times.
The second step is to not panic. Just because the economist are saying that the economy is doomed doesn’t make it true so don’t panic. Let’s say your bank is being sold, this doesn’t mean that you should run out and change financial institutions or even worse put your money in the attic of your home to get lost or stolen. Banks are insured for $250,000 per account and if your bank is sold to a new bank, that bank they will honor the former banks obligation to you. You will not loose a penny so why should you be upset? Our advice to you is to just wait it out the economy and know that it will get better. It’ll just take time.
The third step is to save your money. Put your money in a bank account that draws decent interest. Shop around to find the best interest rate as well as the best type of account to invest. Refrain from investing in long term accounts such as a 3year CD. Keep your money flexible and at your disposal in case a better investment comes up.
The fourth step is to use these difficult times to your advantage. Let your creative juices flow and try to come up with something that consumers need. Once you come up with an idea move forward with implementing a plan to develop it. Watch out for great investment deals and if an opportunity presents itself then go for it! It’s always been said that one man’s loss can be another’s gain. Not that you wish bad luck on anyone but if an opportunity arises as the result of poor management on another’s part, by all means be an opportunist if you are in a position, and take advantage of the deal for yourself.
In closing, you can get through these times by staying optimistic, not panicking, saving your cash and taking advantage of the times. You’ll be a survivor and in no time the economy will be back on track. Good luck!