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After everything that happened in the past few years, we all learned how to be more conscious of our finances. The whole idea is to achieve financial stability. When we reach this financial state, we are more secure even if a crisis will occur. That includes paying off our debts and making sure we save as us money on interest. Not only should we concern ourselves with our debts, we also have to think about growing our income.
The financial market is one of your concerns if you want to know how you can grow your income. It is very important to understand how it operates so you can maximize the investment options that you have chosen for yourself. We are all encouraged to increase our income and diversify it to protect each of our investments.
4 concerns of the financial industry come October
Whether you have invested or not, it is important that you monitor the financial market. It is defined by Wikipedia as the place where consumers and businesses can trade commodities, financial securities and other items of value. These exchanges are usually done with a lower cost. Since everyone is transacting in this market, consumers and businesses are able to compare costs so they can get the best value and return from their investments.
What you have to understand about the financial market is that it can quickly change on you. This is why you have to monitor it constantly so you can make smart decisions about your money.
To help you achieve this, we have compiled 4 different issues that should concern you if you wish to survive the financial market this fall of 2013. These are the different issues that you need to keep a close eye on.
Shaky economic recovery. Evidently, the government shutdown and the debt ceiling are keeping things at a standstill this October. The economic recovery, as more people will agree, was never stable to begin with. It was, at best, slowly but steadily increasing. Definitely, it hasn’t fully recovered yet. But with the standstill in the government and the legislators unable to meet their deadlines, it seems like our economy could suffer another setback. This will not bode well for your investments and you should try to see how this will affect your profits. That way, you can make smart decisions about where you will put your money.
High interest rates. This is actually a scenario that credit and lending companies will seriously start to consider. Part of the issues that will definitely come into the limelight is the loan guarantees that the government is offering so consumers can get better interest rates in their credit accounts. If the government proceeds to pull out this support, people will have to deal with high interest rates. It will be hard to pay off your multiple high-interest credit cards. If you have a loan interest rate that is constantly changing, this could be a problem for you. It can compromise some of the assets that you are paying off.
Government default. Of course, another concern is the debt default that the government will be falling into. October marks a lot of deadlines for the House and Senate and if they cannot reach an agreement with the budget and the debt ceiling, a default on the government debt payments may not be far from happening. This can cause taxes to rise and that can jeopardize the net income that consumers will take home. A lot of scenarios can happen because of this. It can lead to less credit and spending - which will affect businesses in general. Stock values can fall and that can affect your own investments too.
Shopping season. The Fall season is leading up to the shopping season because of the upcoming holidays. This will bring us a lot of temporary highs. We will see an increase in job opportunities as retail businesses will puff up their manpower. Consumers will increase their shopping budget in response to the gift giving season. These are all temporary and while it may be a good thing for those who will get jobs, you have to be very careful about the expenses that you will incur. Never remove the current economic conditions from your consciousness and keep a tight grip on any credit that you want to make.
All of these financial market issues are pretty involved with each other. Although there is a chance that it will not be as bad as we think it will be, it is still best for us to make the necessary steps to take care of our finances.
How to enjoy your holidays despite the country’s shaky financial condition
Definitely, you want to plan ahead when it comes to your holiday spending. While we all want to join in on the good spirits of this season, you have to be very careful about your financial decisions to make sure that you will not go overboard. What the financial market is telling you this fall is that you have to avoid holiday debt at all costs. Here are some things that you can do to make this happen without feeling left out this season.
Make a list of the people you want to give to this season.
Start shopping as early as possible. The holiday rush will increase costs and you can find better deals off season.
Remember that you do not have to buy a gift for everyone. The gift giving season corrupted our minds into thinking that we should give everyone who you think will give you a gift. Give only to the people you want to give to.
Great gifts does not have to be expensive.
Buy things in cash - avoid buying in credit if you do not have to.
These are only a few of the things that you can do. If you can make your own gift, that may even cost less and allow you to give to more people.