Plan and Plan Again!
The last several years have given us much to be concerned about and more than enough to worry over. Of course there is much to be concerned with but the news headlines are seldom, if ever, about GOOD news. It is important to note that all business cycles move up and down. We had a lovely long upward business cycle which had us spoiled.
When the downturn came it was beyond the memory of many. Those of us who were around in the 1970’s remember a downturn that was unsettling, to say the least. The current economic cycle has brought out the best of the doom and gloom writers and it is time to take control of our own thinking and our own financial destinies. For specific details of just how to do that, click below….
1. Have a monthly cash flow plan. (Budget is such a disagreeable word). When you have taken control of your spending and know where your money goes, your sense of accomplishment is enhanced and you are empowered by that control.
2. Check on your life and disability insurance policies. Many have disability coverage through employment and think nothing about it, beyond that awareness. Know what is covered and how it will work if it is needed. Same thing is true for life insurance. The information you glean will be a source of comfort and security.
3. Know what your assets and liabilities add up to. There are percentages that are recommended you not exceed when determining your debt burden. It is good to know what those guidelines are. That information will allow you to feel confident about your decisions and options.
4. Establish specific short, intermediate, and long term goals. Review your options for saving for these good purposes. Using tax deferred investment options will enhance your progress. Remember to measure your savings success by the progress toward your goals, not the day-to-day view.
Do these 4 things and you will find a sense of empowerment, comfort and security, confidence, and success for yourself. Clearly your world can be a source of very good news for you!
