 Recently, there have been several new articles about how to react to harder economic times. The question is do you react defensively by curbing spending and setting emergency money aside or do you act aggressively by looking for opportunities to buy assets at cheaper rates? My thought was can’t you incorporate both acts into your finances? I would think that a defensive lifestyle (buying assets not liabilities, living below your means, making yourself more employable, avoiding debt, etc) would put you in a position to take advantage of the fire sales that can be found on all kinds of assets right now. Need help living a "defensive lifestyle"? Read the "Way to Wealth" by Benjamin Franklin. If you would like some inspiration on how to advance yourself financially without regular economic security Ben Franklin's early adulthood is a good study! http://bucks.blogs.nytimes.com/2010/02/26/how-are-your-preparing-for-the-next-bubble/?ref=your-money For more information visit BowmansMoneyCollege. You are invited to join me at LinkedIn! |