Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Plans to Ride the Financial Storm During Slowdown

% of readers think this story is Fact. Add your two cents.


When financial problems plague a person, you have to make efforts to augment your income with an outside job and possibly learn some entrepreneurial skills. The secret to maintaining financial health during a slowdown is to avoid panicky, frantic moves that can see you making some rash financial decisions that you regret later on.

Don’t splurge now

A time of economic downturn isn’t the best time to take drastic financial risks. During the slowdown, you’d be wise to wait a bit to buy a new car and hold onto the one you have.

A slowing economy makes you more vulnerable to losing your job, having your hours cut and not receiving a bonus. Nobody can be sure when the recession will end, maybe never, but it can be wise to wait a while to see if the economy is going to improve. 

Yes, many people go ahead and buy new homes and new cars, but if you are concerned about your finances, hold on to what you have and don’t make new debt. 

If the mortgage starts bothering you, it is better to sell your house for instant cash on an as-is basis. It would be better to move to another location where rent is cheaper but the quality of life is better. According to Offer House, a Kansas-city-based real estate solutions firm, in recession, cash is king, so it is better to have cash in hand rather than sinking under pressure created by delayed mortgages and other loan repayments. 

Prepare yourself mentally and physically

The weather’s good and the holiday season is almost here. If you’ve canceled your getaway, there’s no need to mope as there are still lots of ways to have fun. 

Work out a realistic budget for the remainder of the year and maybe look at a money-spending tracking app which alerts you to overspending. If you’re staying at home, why not make some money with a reward club where you can earn some worthwhile bucks by watching and reading and earning some cash?

You can find ways to improve your life and become mentally and physically healthier in the process knowing that you have to rebound and get your life back on track. 

Watch your health

If you are fortunate to have health insurance, hold onto it. It may be tempting to give it up during hard economic times. An accident, injury or sudden severe illness such as a stroke can set you back thousands of dollars if you surrender your health insurance and have to pay out of your own pocket.

If you don’t have health insurance, instead of spending your money on pastries and sodas, buy a good supplement to preserve your health during slowdown and exercise more. Health is everything and you can lose it in an instant.

So during the slowdown, keep your health insurance and keep your health as rising healthcare costs can set you back so that you never ever recover again.

Guard your job

Protecting your financial well-being during slowdown means guarding the job you still have. Have you got a plan in place if the year ends with you being retrenched? You can’t assume that your job is safe – layoffs can be expected. 

Show that you’re indispensable to your employer. One of the best ways to prepare for whatever the future brings is to make yourself as marketable as you can. If you’re looking to explore other ways of making money, there are quite a few ways to make some money online and from your home. 

It is more important than ever to prepare for uncertainties. Your job may be uncertain, your income uncertain and even your investments uncertain so one of your top priorities should be while you are still holding onto a job is to make sure that you are continually preparing for emergencies.



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.