Don’t Panic Over Your Finances

We’re hearing a lot of doom and gloom about the finances continually now for the past year or so. It’s recession this, mortgage crisis that and the outlook doesn’t appear to be much better for the year to come. So, one has to ask what should we do with our own finances?

The New York Times recently rant an article about this topic and they claim that “according to the experts, the best advice is to not panic. Consumers who have managed to avoid the excesses of the last few years should sit fast, the experts say.” Well, this advice seems about right and it’s something we’ve talked about before, although we do recommend doing things like making your portfolio recession proof or saving money in a recession.