Reports show that job numbers are increasing and some employees are receiving raises. Yet, some world news reporting points to another economic impact due to the war. Not to mention that a possible recession could be on the horizon. According to CNN Business (Egan, 2022), “The US economy has at least a one-in-three chance of sinking into a recession over the next 12 months, Moody’s Analytics chief economist Mark Zandi told CNN.” “Recession risks are uncomfortably high – and moving higher,” Zandi said.
Well, I am here to encourage you to continue to manage your finances well. Managing your money well is a lifelong journey, so ups and downs are expected. Alike, expect to soar during the roughest financial times. It is not how much or how little money you have; it’s how you manage what you earn. Developing bad money behaviors during a crisis when everything is squeezing your wallet is likely to happen. Creditors still have to be paid; you still have to buy gas, food, pay for your children’s education, and some, your education, medical bills, and countless other obligations.
I suggest that you continue to tame those money-grabbing twins, compulsive and impulsive spending, and assign every dollar. Among others, the aforementioned bad money behaviors will crush your spending plan. Make an appointment with a trusted financial advisor for smart money investment strategies that could benefit your household in the coming years immensely. Click here to learn more on how to keep your cash flowing: http://livemylifedebtfree.teachable.com/p/keep-your-cash-flowing
Christine Roebuck, Financial Strategist