Is your state on the brink of collapse? I just read an article that 46 of 50 states are on the brink of bankruptcy. That figure is staggering. California is right in the mix as well. State workers are now being faced with a 10% cut in their salary starting February 6th. Is this just the beginning?
I do believe 09′ will see a leveling of our stock market and housing industry. However, it will take years to see gains similar to 05′. In the mean time, there are many things you can do to stay afloat.
1. When insurance policies come due, explore options in your current plan to save and shop around for a better rate.
2. Make a list of all your expenditures. Then,separate necessities vs. luxuries. Set a goal of $100 and start eliminating some of those luxuries. Track each month and make additional cuts if necessary.
3. Pay yourself first as Robert Kiyosaki says. Set aside a small amount of money in your savings each month before you pay bills. This way you will have money when emergencies arise.
4. Schedule an appointment with a financial advisor. The money you spend will pay for itself ten fold. Having a professional who can guide you is a must. The worst thing you can do is take free advise from friends and family.
Timothy Laskis, Ph.D., Author, Finding Your Costa Rica: 5 Powerful Steps to Personal, Professional and Financial Success. findingyourcostarica.com
