How to deal with financial fear
At this time in our economy there are a lot of people facing some very scary situations. Job loss, foreclosure, retirement accounts loosing large chunks, home prices falling and that is just to name a few. Their are a lot of people out there preying on those that are dealing with these types of situations. Some of the information is reasonable and some of it is just ridiculous. Kiplinger.com has an article that deals with 13 Financial Frights. Some of the information is reasonable, and very informative.
My advice is based on some very basic principles. First, realize you have a limited income. Second, realize you won’t be financially successful until you begin living within the means of that income. When you have savings and no debt, even during a bad economy you won’t need to be afraid.
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- The Dangers of Financial Illiteracy
- Why Borrowing against Your Retirement Account Won’t Help Your Financial Situation
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