How to Prosper in a Bad Economy

By Alan Myers

There is no doubt about it; our economy is at a thirty year low. Luckily, virtually all of the experts conclude that an economic comeback is not more than a few years away.

The question that remains in everyone's mind is what to do until then. I suggest these seven steps.

1. In concert with your boss, find out what skills and competencies you could add to make you especially valuable. Then, aquire them as quickly as you can, and update your boss as you do.

2. Enroll in an online degree or Online certificate program which will give you the edge over people in your profession against whom you may find yourself competing.

3. Have an updated resume and cover letter ready at all times. Tailor them as necessary for each opportunity that presents itself.

4. Do not "panic sell" stocks or other good investments if you can afford to hold onto them.

5. Meet with your investment adviser to develop a regular, ongoing investment plan. Look for bargains....this can be a time of great opportunity.

6. Be aggressive about reducing debt, including car notes and mortgages.

7. Develop a regular savings plan and put away money until you have at least enough to live on for six months.

These seven steps will not only help you get through tough economic times; they'll help you come out financially stronger on the other side. - 23229

About the Author:

Alan Myers is an economics instructor and writer who contributes to websites on online degree programs and accelerated online degrees.