Finding The Upside Of A Downturn

Sunday, March 1, 2009

Finding The Upside Of A Downturn by John Addison (NAPSA)—Sticking with a few sound financial principles can help you weather even the worst economic storm. Stay Focused The best way to ride out the ups and downsof the stock market is to maximize the power of dollar-cost averaging—investing a certain fixed amount consistently, regard- less of market fluctuations. True, the technique doesn’t guarantee a profit or protect against loss. can’t keep up with yourbills, you may be better off consolidating high-interest, revolving debt into a single fixed-rate loan. Doing so could lower your monthly payment and set a date for debt freedom. Prepare For Emergencies Financial experts recommend having an emergency fund of at least three to six months’ income set aside. You can go from scratch to feeling flush by opening a separate savings account or money within the first year of recovery, according to Money magazine. market fund as a “designate” for your emergency cash. Make automatic deposits into the accounts. Also, once you’ve finished paying off a big debt or credit card, keep making payments—into your fund. Boost Income Adding on a second or third job is a great way to get through a homeowner’s insurance. Money ness on the side—aslongas it has low start-up costs. Addison However, history shows that you’ll make up for 80 percent of your bear market loss Cut Costs Shop around for auto and reports that some insurers give long-time customers up to a 10 percent discount, but that can pale in comparison to what you might save by switching companies. It’s a good idea to get a quote from a different insurer at least once every two years. Credit Counts To keep your all-important credit score strong, pay your bills on time, limit the numberofcredit cards you have and avoid financ- ing big-ticket items at once. If you crunch. Or start your own busiLearn More Financial professionals at Primerica have created a guide that shows you how to take con- trol of your financial life. To get a copy of “How Money Works,” write to Primerica, 3120 Breckinridge Blvd., Duluth, GA 30099, ATTN: Corporate Relations, or call (770) 564-6329, For more information, visit www.primerica.com. John Addison is co-CEO of Primerica.

--- PHOTOS ---

File: 20190731-192146-20190731-192143-77014.pdf.jpg

--- FILES ---

File: 20190731-192143-77014.pdf