7 Bad Economy Money Tips

7 Bad Economy Money Tips
  • Opening Intro -

    The economy is rotten and everyone seems to know it.

    But, not everyone is living like things are terrible and for different reasons.

-------------------------------------

For example, Washington politicians are largely sheltered, drawing huge wages and enjoying lavish benefits. Just the same, there are people who are taking advantage of difficult times and squeezing lemonade from lemons. Certainly, you want to identify with the latter camp.

How can you survive a bad economy? By incorporating the following seven money tips:

1. Go out of debt

— It seems logical that being debt free has its benefits, but not too many people live their lives accordingly. Begin to pay down your debt and get rid of all of your debt before your retire, your home included. Debt limits your choices, lowers your disposable income and tends to rob people of their peace of mind.

2. Save, save, save

— Once you have dealt with your debt, begin to deal with your savings. Literally. Start a savings plan and set aside money on a regular basis. Keep some monies liquid and devote a reasonable amount to investments, including stocks.

3. Marry someone who values money like you do

— In some marriages, one person is a spender, the other a saver. Good marriages work to find a middle ground, but guess what? The thrifty person has less money at his disposal then what he would have had he married a like-minded person. BTW, if you’re already married, then stay married!

4. Be an opportunist

— When everyone else is panicking, take a deep breath and survey the land. Chances are someone is making a decision that isn’t wise, such as selling a business below value. This is your chance to jump in, make some money and flip the business.

5. Look beyond the now

— It is essential that you turn into a visionary when the economy is sour. Gold prices are near peak. Home prices will soon stabilize. Someone in Washington will figure out that stimulating the economy means taking the boot off the neck of businesses. If you react to short term problems without considering long term solutions, then you’ll lose money, perhaps a lot of it.

6. Update your skills

— Technical and community colleges are booming, with more students enrolled than ever before. Why? Because people are seeking training for today’s economy, adapting skills for the 21st century. You may not need to go back to school, but you could certainly use a skills makeover…we all can.

7. Prioritize your desires

— You have wants. You have needs. But, do you know which ones are essential and which ones aren’t? You may want to buy a new car this year, but you don’t need one. You may need a physical, but you really don’t want one. In both example, one option is better than the other, but you must determine what makes sense including keeping yourself healthy.

Making bad choices is something we seem to be good at. However, learning from the mistakes of others can help you to avoid heartache and the loss of money that you simply cannot afford to do without. This bad economy will some day pass, but don’t wait it out without making changes that can only benefit you.

Money Management reference:

build strong credit

SaleBestseller No. 1
SYLVANIA General Lighting 74765 A19 Efficient 8.5W Soft White 2700K 60W Equivalent A29 LED Light Bulb (24 Pack), 24 Count
971 Reviews
SYLVANIA General Lighting 74765 A19 Efficient 8.5W Soft White 2700K 60W Equivalent A29 LED Light Bulb (24 Pack), 24 Count
  • These LED lamps make an energy efficient replacement and substitute for standard 60 watt incandescent lamps; At 8.5 watts, each bulb emits the bright...
  • These bulbs are a great energy saving replacement for old incandescent bulbs because each lamp has a total lifespan of up to 11, 000 hours; You won't...
  • These LED lightbulbs require less energy and can save money on your energy bill; Each soft white light bulb works as a great replacement for old 60...
Bestseller No. 2
Great Eagle 100W Equivalent LED Light Bulb 1600 Lumens A19 5000K Daylight Non-Dimmable 15-Watt UL Listed (6-Pack)
  • PERFECT 100W A19 Light Bulb Replacement. This small and compact LED bulb will fit in all light fixtures
  • 15-Watt LED replaces 100W Incandescent and Halogen Light Bulbs saving you 87% in energy use
  • General purpose bulb ideal for use in table lamps, floor lamps, and open pendant fixtures. Use in any room including kitchens, living rooms, bedrooms,...
SaleBestseller No. 3
24 Pack, LED Light Bulbs 60 Watt Equivalent, A19 Warm White 3000K, E26 Base, Non-Dimmable, 750lm, UL Listed
  • 💡【Technical Features】24 Pack, light bulbs 60 watt equivalent, E26 base, 3000K warm white, non-dimmable, A19 shape, AC-120V, CRI 75, 220...
  • 💡【Energy Saving & Long-lasting】 Save up to 85% on energy costs by replacing 60W with just 9W, average 15,000 hours, up to 13.7 years(3...
  • 💡【Direct Replacement】Perfect replacement for incandescent light bulbs. No breakable parts and are free of toxic chemicals, they are safe...

Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API

-------------------------------------------------------------------------------------------------------------

end of post idea

-------------------------------------------------------------------------------------------------------------

Helpful article? Leave us a quick comment below.
And please give this article a rating and/or share it within your social networks.

facebook linkedin pinterest

Amazon Affiliate Disclosure: SayEducate.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. The commission earnings are used to defray our cost of operation.

View our FTC Disclosure for other affiliate information.

Categories: Consumer Tips

About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Matt's Musings", his personal blog. Matt covers campus, consumer, business and financial topics on various websites and blogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".