Watching the gyrations in the market this past month makes anyone dizzy. And nervous. After years of long-term rising stock-market values SPX, +2.37% GDOW, +0.83%, we are faced with rising inflation and rising interest rates TMUBMUSD10Y, 4.228% —a financial situation not seen in 40 years.
Instead, consider lowering your stress. Options include free activities like going for a walk, taking deep breaths, taking a yoga class online, playing with a child or your pet. From a more relaxed place you will be better prepared to improve your decision making. Knowing what you have now and where the information can be found is one step. The second is to manage your expenses. There are many moving pieces and creating reminders for open enrollments for insurance and recurring bills will train you to be attentive and not have late fees.
3. Be ProActive, Not Responsive: Taking care of the basics in your financial life creates a soft-landing pad when there is financial stress brewing. First, be sure you have cash on hand: Yes, even with rising inflation and low bank interest rates, having cash on hand prevents you from borrowing money. You cannot change the interest rates, but you can stop yourself from paying them. That safety account is more important now than ever to be self-sufficient.
MW doesnt allow access to your watchlist if u upvote a conservative comment in their conversation section of articles. It happens like clockwork
1 Get out of debt.