Many of us have had a difficult financial year in 2022. Some argue that the high number of home mortgage defaults and foreclosures, rising unemployment rates, declining stock market prices and home values, multiple banks and investment firm failures, a credit crunch, and increased costs for necessities such as food, heating oil, and gasoline have resulted in a “perfect tornado.”
What are your options? Protect yourself and take financial precautions, just as you would in the event of a true tornado. The following are 5 “tried and true” financial planning and investment recommendations that can be used at any time, but especially now, to help you survive and thrive in today’s difficult economic climate.
5 “Tried and True” Tips To Help You Survive And Thrive
- Spend Less Than You Earn and Avoid Excessive Debt
- Be Future Minded
- Limit Eating Out
- Save and Invest Regularly
- Maintain a Diversified Investment Portfolio
Learning how to live frugally can help you get by during this difficult economic period.
READ NEXT ON: Time management and productivity tips
