The Economy Is Not Out Of The Woods Yet
There has been a lot of great news in the economy over the last few weeks. To the point that I was even starting to get comfortable. Then over the last week we have seen the stock market go down, Frys electronic closed all their stores across nine states, Best Buy laying off 5000 people, and Victoria Secret closing fifty more stores. These events showed that we are not out of the woods yet and need to stay alert.
Keep Saving Money
Although the economy is showing signs of improvement we must all remember our own personal economy which is our personal finances. There are still people around the country in food lines, unemployment lines, needing their mortgage payments put on hold, while at the same time the stock market hitting all time highs.
If you are working right now any extra money that you come across each month should be put away for a rainy day. The goal is to have six to twelve months of expenses saved. This will be key if there is an unexpected layoff. You look less desperate in an interview if you have money in the bank. You also won't take a job that does not value you and your skills.
Become More Valuable:
There have been a lot of layoffs around the country across every industry. During this uncertain time becoming more valuable at your job can lead to more job security. Find ways to gain new skills as well as grow your network. The skills that you gain can go on your resume and help you to get bonuses and promotions in the future. Those bonuses and promotions mean more money for you.
These new skills can be found on your job or online. There are so many free classes that you can take that will not only help you with your current job, but also prepare you for a future career that offers higher pay.
The Day Is Coming:
The day is coming where this virus will be under control and the economy will be back on track. Now is the time to prepare for that day. If you are looking to get back to traveling in the future now is the time to prepare by starting a savings account just for travel.
If you want to go after a higher paying job when the economy stabilizes now is the time to revamp your resume as well as increase your presence and activity on LinkedIn. Don't wait until everything is good before you decide to prepare. By that time it will be too late and you will miss out on opportunities.
This is not the time to let your guard up. Stay alert to what is going on and start preparing for more of what you want!
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Other ways to stay in the know when it comes to your finances!