April 4, 2023
Some people define a successful retirement within narrow parameters, while others can develop new possibilities even while cutting back. Rather than push their budgets to the brink, people can identify creative alternatives ahead of time. How might you enhance your flexibility quotient?
http://streetsmartfinancial.com/wp-content/uploads/2016/09/transparent-logo.png00stsmhttp://streetsmartfinancial.com/wp-content/uploads/2016/09/transparent-logo.pngstsm2023-05-02 16:34:502023-05-24 18:13:08The Power to Adapt
October 31, 2021
We are all feeling the impact of rising prices in so many places. When you go to the grocery store, fill up your gas tank, or buy any of the many items in short supply, prices are soaring. Federal Reserve Chairman Jerome Powell had calmly responded to recent inflationary spikes by claiming they would be “transitory”. Powell suggested that prices were rising due to pent-up “post pandemic” buying. The Fed was comfortable with a little inflation of 2 % or slightly higher, which could jump start a stagnant economy. But price concerns are increasing for many consumers.
July 31, 2021
We are all influenced by the “recency effect.” If an investment performed well or poorly in the recent past, our emotional reaction is to assume that trend will continue. This human tendency encourages ongoing momentum, which can impact price.
May 20, 2020
Hope you are well and safe during this extraordinary time. Because of COVID-19, the market volatility is much more erratic than the typical “ups and downs”. Since it is difficult to time markets in an attempt to get in and out at the “right time”, staying the course has historically made sense even during uncertain times. We had a major downturn followed by a rally in April. Yet the economic landscape continues to look unpredictable.
March 24, 2020
Many people are shocked at how quickly their economic fortunes have changed with the market crash and closing of some businesses. The stock market has declined at a historic clip. Many people’s income has gone down or stopped. And the damage may continue for some time until normalcy comes back.
So how do we focus on what we can control in the aftermath of all this shock? Understandably most of us are not in the mood to make many adjustments while still coming to terms with recent events. But we may need to make financial changes. My recent blog “Magnitude Matters” suggests tackling bigger ticket items, even when dealing with small concrete items, feels easier and more manageable.
March 21, 2020
As we readjust to spending more time at home, it is an ideal period to reevaluate all the auto-charges that we have on our credit cards. For example, I have a family health club on autopay. Since the club announced it will be closed for a month, will everyone get a credit or only those who ask for one? I decided to proactively put my membership on hold. Other auto-charges may seem unnecessarily high now or not essential. Time to purge with these tips from my blog.