Be Confident in Your Financial Future
People seem to be tense these days and it seems the bad news coming from your television and newspaper must certainly accept some of the blame
. The answer? Stop watching "murder news" and stop watching hysterical financial news. I find Bloomberg news
http://www.bloomberg.com/ to have good information without the hype that generates the kind of angst and fear that I'm noticing these days. Other great sources of useful financial information for us "regular folks are
http://www.cnnmoney.com/ and
http://finance.yahoo.com/These are times to call on your faith and intelligent planning not become subject to fear and panic.
It's clear that there is no safe place for money. Every area of our economy is under attack and needs repair. As a faith-based person I've taken a two-pronged approach that works for me. One is, I continue to give to my church and charitable causes. The second is to follow an intelligent financial plan.
For more information regarding a personal faith based initiative to the financial crisis click here. "Faith and the Current Economy"
Have direction for your life. Follow your passion whenever possible. Even if you are working at a job or a business that isn't the stuff dreams are made of, find a way to connect it to the future pursuit of your passion.
Prayer and meditation are also key. If ever there was a time for reflection into your life and building faith in a better future and world this is it. Understanding that in every challenge and temporary defeat is an equivalent or greater benefit. At times your needs and goals are supplied in ways you have never dreamt of.
Worst Approach
Having a good time and getting sloppy work behind you so you can pursue your fun really needs to become a thing of the past if this is how you are used to conducting your life. If you are a person with no goals, no work, no structure, no real drive, no planning, you tend to goof off, etc., you will become a statistic. These are the people that live with no financial margin, and you certainly didn't plan on growing up to be broke all the time! Not putting forth your best effort, particularly in our current environment is a sure fire prescription for disaster.
Profile of a person who has large dreams, but no real forethought:
Graduate from college with a BA or a Masters degree.
You meet someone and fall in love and get married.
You are just starting out with student loans that have to be paid.
Put the cost of a large wedding on credit.
Buy each other pricey rings and jewelry on credit
Buy new cars. One each!
Buy "too much house" with way too much mortgage.
All income going out monthly on bills with no savings and no margin for error.
**Notice a person (s) would appear to be successful and prosperous on the surface but underneath is it is a house of cards built on instant gratification no matter the cost.
Bad Approach, But Not the Worst
Some of the above but not all.
Adjustable rate mortgage getting ready to go up.
No current savings or not enough for current possible disasters.
False sense of security.
Best Approach
Work hard and smart in your profession or business.
Have more than one stream of income.
Use credit intelligently. Don't go over the limit or stay over the limit. Keep only 2 credit cards, not 20.
No speculative financial activities.
Don't listen to the foolish or the envious.
Pay bills on time.
Have definable financial goals.
Has built or is building a retirement nest egg (401k, IRA, part time business, etc).
Has saved or is diligently saving an emergency fund.
Plan out your fun and enjoy yourself.
The warning here is never to presume you will be bailed out by someone else. Just because a new President has come into office and has promised to clean things up and make changes doesn't mean he is responsible for you personally. You are responsible for you.
Each of us should make our lives safer by:Making the best of your current job opportunities.Give to your church, religious institution, and appropriate charitable cause.Spend time daily in prayer, meditation, or some of the way of feeding your mind positive mental messages.Pursue your passion as either a part time business or transition to it full time after careful consideration.THJ & Associates, LLC 2008Be Confident in Your Financial FutureBy: Theodore Henderson
Planning for the Future is Important When Refinancing LNG Industry To 2016 - Increasing Gas Supply Challenges Future Growth Prospects Planning For The Future With Funeral Urns Scholarships For Moms Make Way For The Future Shell cooks up cleaner future with $6m donation for global clean stove initiative Using Added Leverage With A Managed Futures Account The Future Of The Android Operating System Aarkstore Enterprise - The Future Of High Potency Active Pharmaceutical Ingredients Hpapis Dfj Nanocar: The Future Epon And Gpon Ftth Future Who Will Prevail? Future Dealings Of The Oil And Natural Gas Companies Obama Grants For Mothers: An Investment For Our Future Indian Astrologers Predict Your Future