Good Strategies in Bad Times

By Alan Myers

There is no doubt about it; our economy is at a thirty year low. Luckily, virtually all of the experts conclude that an economic comeback is not more than a few years away.

The question that remains in everyone's mind is what to do until then. I suggest these seven steps.

1. Ask your boss what new skills would improve your value to him/her. Then, immediately begin to develop them.

2. Consider an online degree or online certificate program which can make you a better candidate for a promotion, new job or career change.

3. Update your resume and cover letter on an ongoing basis. Make minor adjustments in them, as appropriate, whenever you use them.

4. Don't dump good stocks or investments just because they have temporarily lost value.

5. Talk with your broker about regular...perhaps monthly...investing. Seek out bargains; they are not hard to find these days.

6. Be aggressive about reducing debt, including car notes and mortgages.

7. Pay yourself first. Before you do anything else, take a fixed amount out of each paycheck and put it away until you have saved enough to cover your expenses for at least six months. Think of this strategy as an investment in your peace of mind.

These simple strategies will not only help you survive tough economic times, they'll help ensure you a strengthened financial position long after the economy has recovered. - 23162

About the Author:

Alan Myers is an economics instructor and writer who contributes to websites on online degree programs and accelerated online degrees.