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More financial woes in the months to come

January 27, 2009 By Jim

I was a little discouraged when I read this from CNN today. Business leaders are predicting that the coming months would be gloomy worldwide. Oh, the headaches involved with the occasional hair-pulling.

It is a serious matter to consider tightening ones expenses. This is the season when wise investments and savings count. If you can just afford to save $50 (like us!) a month, then so be it. You have to sacrifice all the soda and deserts you crave for just to keep money in the bank for emergency and future expenses.

With the threat of a global recession as a dawning reality, everyone has to take notice and make appropriate steps to safeguard their future.

“The worst will be over sometime this year but the recovery is going to be very anemic, and in the first part of the recovery it won’t even feel as if the recession has ended,” Roach told CNN.

He predicted a “period of protracted sluggishness” lasting at last three years — but warned the economy could slide back into recession unless the imbalances in the financial system that had caused the crisis were addressed.

Filed Under: Business and Money

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