We live in uncertain economic times.
No one knows what will happen next. Between a difficult job market, a housing sector that refuses to recover, and Europe on the brink of complete financial disaster, it’s easy to feel anxious about your money.
Will we see another recession? Could things turn around and be great? Are a eurozone collapse and slowing growth in China about to dump us into another global financial crisis? While you want to be prepared for the possibility of economic problems, it’s not a good idea to let fear rule you.
Once you let fear master you, you start making very poor decisions based on that fear.
Whether it’s making a bad investment decision, a risky business choice, or sabotaging your relationships, fear and anxiety can lead to problems in your finances and your life.
Before you let your worries about economic uncertainty turn into a full-blown financial emergency, it’s a good idea to take a deep breath, step back, and consider these 5 tips to helping you cope with the uncertainties that come in an economy like what we’re seeing now: