Financial Planning Listen to Money Talk
Featured Financial Planner
 According to the authors of “The ABCs of Making Money”, here are 10 tips for surviving a deflationary economy: One: Design a Budget for you and your family. It can be really simple (see The ABCs chapter 4) as long as it helps you see how you spend your money. Revisit your priorities: Do you need the extra car, the full package for your mobile phone, the extra TV channels you never watch etc. Two: Pay down debts (especially high interest credit cards) as much as possible. With rampant job cuts, higher unemployment and wages remaining flat or even declining, making mortgage and other loan payments could be tougher, so do it now. Three: Stay mentally fit. Be positive, don’t panic, don’t get obsessed with the negative media coverage, seek out positive news. Four: Be physically healthy. Eat well, get ample sleep and continue to stay active. You need to be at your best in order to thrive during difficult economic times. Five: Go green. Save the environment while saving money. Get rid-of your gas guzzling car. Car pool or take public transportation. Reduce your utility bills by buying energy efficient home appliances; invest in insulation; change all the light bulbs to energy saving types. Six: Consider your real value to your company (see the Employment Leverage Indicator p: 122/123). How bullet-proof are you? Learn how you can develop yourself. Seven: Invest in longer-term U.S. Treasury bonds rather than corporate bonds. If the economy really goes into a deflationary spiral, the falling demand leads to lower revenues and profits for many companies, which means they might have trouble making their bond interest payments. No matter what happens, you know that Uncle Sam is going to make his bond payments, even if it means running the government printing presses overtime to do it. Eight: Invest in stocks. Right now the stocks are on sale. Do your homework; stick with companies that carry manageable debt, and through innovation, competitive advantage or other reasons, are able to maintain some pricing power and can continue to produce profits despite falling prices. Never invest in stocks with borrowed money unless you are 100% sure of success. Nine: Invest in the staples. People always need the basics, so companies that produce food, personal hygiene products, and medicines and tend to give consistent returns. Ten: Invest in the best company: “Me INC”. Invest in yourself; develop your marketable skills, or turn your hobbies into money by starting a home-based business. The ABC's of Making Money was written by Dr. Denis Cauvier and Alan Lysaght and published by Wealth Solutions Press. Learn more at www.abcguys.com ### |
Terms of Use - Privacy Policy - Advertise - About MTN - Careers - Contact Us Copyright . Green Rain Marketing, LLC. All rights reserved.
Secure Sites
MTN Home Careers Financial Education Insurance Travel
Radio Shows Columns Financial Planning Real Estate TV Shows
Blogs Credit Forum Listener Line Workshops
Books DebtBuster Home Ownership Media Pros Become a Featured Expert
Business Debt Relief Investing Taxes About MTN
