Since the terrorist attack on the World Trade Center, bad news has been coming fast and often in the past decade. A period of peace and quiet is now very rare. The attacks led to war, followed by the housing market problems and the credit crunch, the real estate bubble burst, credit card debt soared to unimaginable numbers, and all this leading to the 2008 financial crisis. Over the last decade the bad news has been coming fast and often. A period of quiet has been very hard to find.
Overseas when the European market is researched, it is seen that the current euro financialcrisis is continuing to threaten the euro zone. Since countries like Spain and Italy where exports and imports were connected to the United States, the average European citizen living in these countries is facing the credit card debt escalation as the Euro heads further into financial pressure. Many overseas see the European financial crisis continue to threaten the Eurozone. Many European countries are in trouble, which is hampering U.S. recovery. Many of the residents of the EU are still feeling the effects of the financialmeltdown of 2008.
How do your financial plans get affected by bad news?
With the recent global events and continual bad news most of the people around us have become pessimistic. Citizens of Europe are facing the dilemma of whether to lower theircredit card debt or invest in such a risky financial period. When an investor hears negative reports or news, they tend to hold back their investment. This may cause you to go on a conservative path of investment rather than taking a risky approach. Fear has set in most of the investors, causing desperation and helplessness.
How can you integrate your credit card debt into your investment plans?
In today’s financial environment where people are facing huge amounts of debt and downsizing leading to them losing jobs, it is time to invest smartly. When people feel uncomfortable to invest in the market they tend to move their assets to a more predictable, safer class. If you carefully conduct risk-tolerance planning then you should stay on course of settling your credit card debt while building a potential asset in the future.
But if you feel uncomfortable while talking to an investment planner then you should invest in a less-volatile/more stable portfolio with a rate of return that can help you pay off yourdebts firstly. A good financial planner will always tell you to look for long-term investments and that that is the only way to attain your goals.
What can lead you to halt investing or even planning is pessimism. Staying on track during negative times is the smartest move an investor can make and getting affect by bad newswill always hinder/jeopardize your financial plans.
There is Hope for the future
As the world bounces back from the financial meltdown of 2008, there is hope for the future. As predicted it will take another two years for the world to see stages of normality. Till then an investor should look towards safer and less volatile options to invest in rather taking the hard/risky routes for returns. Your aim firstly should be reducing your credit card debt in troubled times so you can thrive with your investment in positive times ahead.
It’s important to keep the following thoughts in mind:
The worst of the economic crisis has passed.
The U.S. is in a more suitable position for recovery.
Good news will always get less attention than bad news.
Prepare yourself for a possible economic growth.
Make sure that you prepare a positive and safer financial plan till things get normal.
While we are waiting for good times it should be your imperative to develop a good budget plan so that you can spend modestly and lower your credit card debt in the process. Keeping your spending in order will help you and your money go further while lowering any remaining debt that you may have, if you are saving your earnings. Plus Consolidated Credit can help pay off credit card debt faster and it is also time to find alternate sources of income to achieve the ultimate goal of saving and credit card debt reduction at the same time.
I'm Louida from Atlanta, Georgia and I'm a mother of two daughters, blogger, and full time working mom at a Business Consulting Firm.
I love helping others learn how to start working from home on the internet free to supplement their current income.
I also blog at Productreviewmom.com
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