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One of the newest sections on CNN Money is the timely "recession-proofing tips" area for Americans who are worried about the increasingly poor economy. 

These tips tackle everything from how to hold onto your job or maintain your career in the event of corporate downsizing, where to put your money to keep it safe and profitable, how to beat an impending foreclosure, and tips for critically examining the pros and cons of buying a home in the current "buyer's market." 

Whether you're getting ready to retire, planning to marry or start a family in the next few years, or just getting your career off the ground, these tips on how to avoid being hurt by the expected recession are incredibly helpful!      

Carrie @ 12:20 | comments(0) | Permanent link

Years ago, the real estate market was booming and there was constant talk of real estate investments being the safest, most surefire way to turn a future profit.  Today, the market is down, foreclosures are up, and homeowners are struggling to get a fair price when selling their homes in this buyer's market.  Is real estate still the smartest way to invest your money?

The answer is yes.  Real estate markets typically go through cycles including buyer's and seller's markets.  The buyer's market obviously favors people who are shopping for a new home or investment property, while the seller's market can sometimes lend itself to several potential buyers bidding a property up past its asking price. 

Though today's buyers will not be able to flip their properties in short order, they have the benefit of buying low with the option to sell high several years from now.  If you can afford to hang on to your purchase for a few years, you can expect a positive turn in the market and a good chance to make money on your investment in the future. 

Don't be discouraged by dire real estate predictions.  The market will improve, and when it does, properties will once again be a great way to increase your wealth.  Buy low, sell high works for real estate as well as it works for the stock market!   

Dan @ 14:48 | comments(0) | Permanent link

Who hasn't been there?  You sign up for financial planning services, turn over your savings so that it can be invested by a professional, and then you start losing money.  After a few months in what feels like a downward spiral, even the most savvy investor would wonder if the time had come to pull out.  Money Magazine expert Walter Updegrave says no.

As long as your adviser is working with you and communicating with you about the goals you have set for your money, you need to have some faith in his or her abilities and training.  Brokers who are eager to move your money around and around and who are quick to "play yes-man" to your concerns are less likely to have your best interests at heart. 

Bottom line:  if you want to do your own investing, do it, and leave the financial planners to do their jobs for people who really want their services and expertise!  

Patricia @ 12:26 | comments(0) | Permanent link

After a few friends started signing up for RevolutionMoneyExchange.com, I decided to join in the fun. After all, at the time I signed up the fledgling company was giving away $25 to new members and $10 per referral.  I accumulated $90 in my account very easily, quite a good deal for the amount of time and effort it took to sign up.

As I understand it, this site has come under fire for selling members' information to credit agencies and others.  At the same time, it has received much praise for charging lower fees than Paypal and similar online payment processing companies.  Really, it's too new to tell.  All I know for sure is that free money is nice to have, and I don't regret signing up when I did!   

sara jane @ 08:24 | comments(0) | Permanent link

It can be very difficult to obtain a loan when your credit record still reflects a past bankruptcy. While credit card offers will start filling up your mailbox within a year or two of your bankruptcy being discharged, it can take several more years to secure a loan.

Fortunately, mortgage agencies are more flexible than most financial institutions. Housing is viewed as a necessity, and so these lenders are often willing to work with previously bankrupt clients before other agencies are. Car loans are also slightly easier to obtain. However, certain lenders will not consider loaning you anything until your bankruptcy has cleared -- purchasing a recreational vehicle or other item viewed as a luxury or non-necessity by the lending agent is something you will not be able to do for at least seven years.

Though filing bankruptcy is sometimes the best option for individuals, it is a choice that can complicate your financial matters for years afterward. For more advice and words of caution about bankruptcy, click here.

dan @ 20:48 | comments(0) | Permanent link