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Planning For Uncertainty
Manage episode 335758494 series 2993499
Renee Collins에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Renee Collins 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
This podcast is dedicated to providing financial education to families and business owners so that they can save and invest and build wealth for today and future generations.
This is last podcast of season one...16 episodes. It has indeed been a journey. Thank you to all those who have supported this podcast!
In an effort to cool off the economy, on July 27, 2022, the Federal Reserve Board increased interest rates by .75 points. When the Federal Reserve Board increases interest rates it has a ripple effect that will eventually increase the interest rates on automobiles, mortgages and credit cards.
Now is a time to get back to the basic money management. Here are some tips to manage your money during these uncertain times:
==> Spend with intention. Pay attention to where your money is going, spend on those things that you need and defer your wants until later in the future.
==> Add money to your emergency fund. Advisors recommend saving 3-6 months of basic living expenses. However, if you are a business owner, you may consider saving closer to 9-12 months. Decide what is best for you and your family.
==> Continue to invest in the stock market. If you are saving for a retirement that is 10+ years away and your portfolio is well diversified. Don't allow the dip in the stock market to force you into making rash decisions.
==> Look for investing opportunities. There will be investing and wealth building opportunities regardless of business cycle.
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