Economy

Survive your economy woes. Envision the future

“Most of us understand that innovation is enormously important. It’s the only insurance against irrelevance. It’s the only guarantee of long-term customer loyalty. It’s the only strategy for out-performing a dismal economy.”

Gary Hamel

               So what does economy exactly stand for? Can you tell me in your own opinion? To me in my opinion the economy is growth. When a country is on all of its cylinders, the economy grows. Cities and towns are booming.Everybody has a job(that actually pays the bills, and all the different types of industries are booming, whether its the car industry, or housing, etc…

Every thing is going great just like how things were after we got out of the great depression although i wasn’t quite alive at that time. But life was grand back then, and the American Dream was real. You had the whole baby boom going on because every body was settling down having families in there middle class house. But now.. Where are we?

   There are many countries today that are actually worse than the Unites states even though I personally thought we were the w0rse, until recently.Actually, Japan, Greece, Italy and Portugal are in much worse shape than the U.S. despite our almost $18 trillion debt. When you look at the debt-GDP ratio the Unites states is the sixth highest in the world.

Now in this economy, whether you live in one of these countries or maybe another one not on that list(Germany was hit hard after World War One), in this economy sometimes its hard to thrive. Sometimes your job loss is out of your control because they just couldn’t afford you any more because there was no more work.

Or maybe you’re in one of those cities, or towns, or other countries where your economy is growing phenomenally. You have that good paying job. The thing is though sometimes you need to take precautionary measures.You need to assert your financial future, because even though you cant always predict the economy you can control your financial future.

In today’s world its amazing with all this technology that you can be living in one country, but be working for another. I believe this makes your personal economy, you could say, easier to manage.

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       You may have a job for a long time that pays well, but that doesn’t guarantee it’ll be there forever. whatever your situation may be, and if you read my About Me page you would understand my situation, you need to start planning today how you will be able to survive tomorrow and the next day and the next day.

Maybe even have enough for your kids after you pass away, so they can make it too. Are you saving? what kind of bank accounts do you have? Are any of them accruing dividends? You could always try stocks if you haven’t already, but that’s more of a gamble if anything, especially with how the stock markets been.

We all want be successful but some of us don’t feel its possible because of their situation. I grew up broke and missed Christmas and birthdays, so i can relate how some of you feel. Of course, some of you were in a worst situation then me.

      There are ways though that you can better your future. Would you rather spend all your time hanging it with friends or bettering your financial future so you can possibly even retire earlier. I know it can me tough especially since I’m not to old myself, but sometimes its worth focusing on better things.

How’s your budget? Is there room to cut expenses? Maybe go out to eat one less day than you are already doing?To focus on that future I ask you to do a few things for me.

   Budgeting

   First I ask you to go through your budget. Check where you can cut expenses. like i stated earlier, look at maybe your food. Go out to eat one less night, or buy one less tub of ice cream and settle for a cheaper snack. I love to eat but i have even succumbed and done some of these sacrifices.

Some of you might feel that your budget it already super tight. I understand, some of you are probably already good with that. Another good way to manage your budget is there are a few great websites that give you advice and shows how your spending is month to month.

One great financial tool that i love to use is Personal Capital. It links up all your banking accounts, credit cards, stocks, IRA’s, etc.. and then you can see all your finances, equity, and, debt in one places to better to manage your budget. Its a great tool to use and if your assets are worth more than $100,000 you get free financial advice.

Another tool is A website called Mint. Its similar to to Personal Capital, but has a few different features. One Feature I especially like is you can set goals and watch your progress whether its paying off credit card debt or saving to buy a new car.Both of these tools are great to help improve your finances and as they are free I highly recommend taking advantage of both of them.

Bank accounts

   Another thing I suggest you should do some research on is different bank accounts. If you have some extra money, your not spending , move it from your Checking’s account to a savings to get a little bit of extra income. Remember every penny you gain does count.

I saved all my changed for 6 months and walked away with 300 extra dollars than i would’ve had if i didn’t save the pennies. Also check all the interest rates on your accounts and research for higher interest.

moving them into those kinds of accounts will help immensely after a period of time. Just spending a little bit of time every week can help with this little extra income for doing nothing but paying attention to rates.

Few words of advice

       There are many ways of saving and cutting expenses. These are just a few tips i wanted to share. Of course, if you own a house or drive a car you can always look into more efficient light bulbs to save on electricity, or if you’re driving around town roll down your window instead of using your ac to save on gas. Also check out my review on another product that you may find more superior than anything I mentioned here on this page.

Any questions or maybe other tips for people reading this article leave a comment below or send me an email Id love to here your responses and intake. P.S. I will respond.

You can also email me at: brandon@lifelesswallet.com

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