Times are rough... they are rough for many of us... especially in the real estate industry. We are finding our belts and sucking them in a few notches... But not just in the real estate industry.
Last night I was talking with some friends that are in the business of state and local government. Furloughs, hours reductions and no raises are just some of the ways they are being affected... Out in the private sector, pay cuts, layoffs and other cutbacks are all over the place.
But that isn't news...
One can barely turn on the radio, TV or computer without seeing rough news about the economy... and the news is getting rougher. Instead of stemming job losses with the "stimulus package", it seems that losses are still running heavily. Increased governmental debt and looming tax increases are keeping businesses from expanding. The dollar is remaining weak, keeping the cost of fuel high, despite lower worldwide demand.
But there IS something that we can do about it...
We can save money. Did you know that Google has multiple directories of resources to save money? I didn't... I know now, though. From ways to lower food expenses to coupons and freebies... there are all sorts of resources for all of us to use to help us enjoy life while saving a few more bucks. And even if we think the job is secure and our risk exposure is low, saving a few dollars can reap huge rewards... Think of the amazing investment opportunities that are out there right now... from undervalued, but healthy companies that might be great to own stock in, to super deals on real estate for investment purposes... Since the economy is tough, it is a buyer's market all over.
This is the time when solutions can be found and the foundations will be poured for future financial gains. And the first step is putting ourselves into a position to do something about it.
The baby-step for financial security is saving money... So, try this.
If you are looking for that investment property in Gwinnett County, let me know...
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