Le Milly J

One area of your life you should not put your full faith in is the economy of this world. As more and more story lines give you a false hope and present fear to you at the same time, at this point you should have a “I know better attitude.” First, they tell you the economy is during great, then with the same lips you hear reports of massive layoffs. Understand this, it’s all a game for them and they are betting that most people are not paying attention. In whatever condition the economy is in, always know you must “save yourself.” You must make the decisions that will keep you moving whether the economy is up or down. 

Here are the Top Three Tips that will never get old and the reason it must be repeated is because they work. 

Continue to Save– that is save as much as you can, while cutting expenses. Over and over this is told to many. Yet over, and over you hear people are still overspending. How many T. V’s can you buy every year? How many shoes/sneakers do you wear in a day? Why do spending $200-1000 of dollar on hair and makeup make sense to you? Are you running a circus? Most of the spending people do is on non essential items. Nothing that can save them. Many are stuck on this “look rich” mentally. But looking rich will do you no good, when you can’t afford a roof over your head. Saving and creating an emergency fund will help you during times of high inflation and job layoffs, “looking rich” won’t. Choose your path wisely, Proverbs 13:7. 

Take time to evaluate your finances and ramp up your savings, retirement and investments. Do you think it’s for fun the government is telling people to save for retirement aside from receiving social security? It’s because they know they have over spent and a future generation may not receive nothing. In addition to, they know life is going to be more expensive, they are the ones creating the environment for this high expense life, pay attention!  

Furthermore, most people going into retirement are only relying on social security income and they are finding out now that it is not enough and some are not able to go back to work. If you are not in this position, you still have time to get things in order. Always plan and prepare for the unexpected. Many don’t plan for inflation, health issues, property expenses/taxes, etc. as they retired. If you are younger don’t think you have time either to have fun now, spend all you want and save later. Things are changing rapidly, nothing is promised to no one, make smart decisions. 

Continue to Prep– prepping is not for only doomsday events. It can really take some stress off you. For example, if you were layoff, the last thing you need to be worried about is spending money on household items. If you prep and purchase these items in bulk, that is one less thing to worry about. Learn to buy things in bulk and store them. You can even learn canning to prep food items. Remember what you do today can save you tomorrow. If something were to happen today, do you have enough for at least 3 months of emergency or a lockdown? Plan accordingly.

Continue to invest– investments are volatile, but it still works. A lot of companies are preparing for growth. They have been implementing changes to increase technology and decrease the need for a large human force (employees), so they will still make money, and everything is going up from there.  They have already did their research, time to do yours.

People need to follow the money. What are they investing in? What plans are they making for the future? It’s not hard to find, these information can be found on the company’s website, financial statements/Investor Page, Stock forecast. The thing is most people are not going to take the time to read these things, but if it’s gossip and drama, they are all ready to hear and read about these things. Many will be left behind and by the time they “get it” they will be paying a higher premium to get in. There are so many options on what to invest in, there is simply no excuse not too. Continue to be wise and increase your investments.  

I hope this has been encouraging and this has help you to either ramp up on what you have been doing with your saving, prepping and investments or to get started. It’s not too late. Don’t let the news scare you about the economy, that is a part of life, things will be good and bad, up and down, but at the end of the day you are still responsible for your life decisions. The government is not going to save you or spare you, your family doesn’t have to help you, and your friends are going to be just looking at you, so you are still stuck with saving yourself. Be wise! 

Previous Blog Posts on the Topics of Finance:

Setting Thine House in Order: https://themillyj.wpcomstaging.com/setting-thine-house-in-order-financial-health/ 

Brace Yourself: https://themillyj.wpcomstaging.com/brace-yourself-preparing-for-your-financial-future/ 

How to Beat Inflation: https://themillyj.wpcomstaging.com/how-to-beat-inflation-simple-tips/ 

Quick prepping tips: https://themillyj.wpcomstaging.com/keeping-your-house-in-order-quick-extra-prepping-tips/ 

~Blessings from Milly J

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