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 question is, what should we be doing in the meantime? Here are some answers.

1. Meet with your supervisor to determine what new skills would make you more valuable. Then come up with a plan to acquire 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. Update your resume and cover letter on an ongoing basis. Make minor adjustments in them, as appropriate, whenever you use them.

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

5. Talk with your broker about regular...perhaps monthly...investing. Seek out bargains; they are not hard to find these days.

6. Reduce debt aggressively. Do whatever it takes to pay off all of your debts as quickly as you can.

7. Pay yourself first. Before you do anything else, take a fixed amount out of each paycheck and put it away until you have saved enough to cover your expenses for at least six months. Think of this strategy as an investment in your peace of mind.

Adhere to these tips and you will make yourself financially bullet proof. Your goal should be to continually enhance your financial position, regardless of the economy. It can be done. - 23212

About the Author:

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