Here’s how YOU can beat hard times … financial expert’s money tips
By DEREK CLONTZ
Your World Report
A prolonged recession will knock a lot of people for a financial loop,
but our expert has some tips that can help you battle the bad times ahead - and come out
smelling like a rose.
“The important thing is to plan, don’t panic,” says consumer expert
Derek Clontz. “Keep a tight rein, a sense of control over your life.”
Clontz offers these suggestions for weathering the financial storm:
- Learn new ways to have a good time without blowing a lot of money. Have fun with
family and friends. Instead of shopping or eating out, organize an old-fashioned
picnic or take a stroll in the park.
- Barter or develop other ways of acquiring needed goods and services without shelling
out scarce money. If a neighbor can cut your child’s hair, offer to mow his lawn or
wash his car in return.
- When financial trouble arises, attack the problem and not the person. Don’t
blame yourself or others for tough situations that can’t be controlled. Spend
your energy finding ways to get out of the hole you’re in.
- Be constantly alert for new ways to economize by organizing a car pool or making
meals out of leftovers.
- Seek ways to add to your income. Taking in a boarder might ease your financial burden
without increasing your workload.
- If you feel your job is in jeopardy, get additional training to improve. Find out
exactly what your supervisors expect of you and make plans to satisfy them.
- Be very wary of loan consolidation in times of soaring interest rates. It’s
cheaper to pay part of most bills than to take a high-interest consolidation loan.
Question? Comment? What do you think? Write Your
World Report Editor Derek Clontz . He reads and responds personally to every
letter, often within minutes and always within one business day.
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