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It is always a great idea to strengthen your finances. If you take into consideration the current economic conditions in the country, you may think that people should start thinking about the future. According to CNBC.com, the S&P 500 started 2016 with a less than stellar performance. This prompted people to think that we are probably facing another recession. The article revealed that experts are trying to pacify investors by saying that it will not be a repeat of what happened in 2008. Of course, people are finding that hard to believe because of their personal financial situations. First of all, a lot of Americans are not really feeling the economic progress that is being reported in the news. The reports are saying that the employment rate is high right now. That means people have the means to spend for their needs. While that may be true, this does not necessarily mean people are feeling any financial improvement. At best, the majority is saying that their finances are just about the same. That means it is not getting worse, but it is not improving either. With the increasing credit balance of consumers, it is hard not to panic if you start seeing the stock market go down. A lot of people are seeing the same scenarios that lead to the Great Recession. And that is making them feel a bit of panic. You cannot really blame consumers if they are thinking that things are turning for the worse. Although some of us have increased our credit card spending, we are still being cautious about our use of credit. With the news surrounding the stock market, you can bet that we would approach debt with a greater sense of caution now. You may feel the first signs of panic, you are highly encouraged to control that feeling because you will need your wits about you. It is not yet a guarantee that the country is headed for another recession but that does not mean you should not strengthen your finances. Whether the rumors about an impending recession is real or not, it pays to prepare your finances to withstand it.