Forget the Headlines and Keep Saving
Posted on May 2nd, 2011
What do Libya, Portugal, Greece and Japan have in common? A mix of geopolitical risk, dissolved parliaments, plummeting stock markets and “austerity measures,” by my recent scan of headlines. Oh, and unemployment for college graduates is the highest it’s ever been. There are a lot of scary things going on out there—only 50% of which I understand. First, this doom and gloom makes me want to live it up while I can. This means vacationing on sunny beaches and buying myself an iPad instead of deferring the vacation until I get through graduation. Second, I think it makes me less likely to invest my money in faraway places, because who knows when the people will rise up and take to the streets?
Then I shake the anxiety out of my head and tell myself to stay the course. Precisely because we don’t know what’s on the horizon, we need assets to our name. We need an emergency fund in case the employment picture stays ugly. We must build our habits so that when times get rosier, our credit scores help us get that job, apartment or mortgage. Close up the newspaper, readers. Let’s keep our heads down and thoughts steady as we keep on truckin’.
For tips on amassing assets to your name, check out Practical Money Skills’ page on Saving.
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Tags: Headlines, Headlines Keep
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