Moneyzine -
October 2008 Issue
A Note on the Current Financial Crisis
Welcome to the October Issue of Moneyzine -  Transformyourmoney.com's monthly
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Take Care,
Melanie Fine, CPA
In this Issue
If you don't have time to read the whole newsletter, click on the topic that
interests you. This month you will find:
Thank you for reading the October Issue of Moneyzine.
This month I thought I would share a couple of thoughts regarding the "financial
crisis" that the world is going through. And share with you a couple of new
pages that I have recently posted.
The world's economy (for the most
part) has seen some unprecedented times in the past month. Banks in the USA and
other countries going bankrupt and need to be bailed out, the world stock
markets tumbling, and governments scrambling to keep their countries economies
afloat. You may ask how does this affect me?
That depends on where you are in your
life. If you are close to retirement and your nest egg is heavily invested in
the stock market, then you may have to wait to retire a little longer. If you
are looking for opportunities to invest in the stock market - then blue market
stocks may be depressed enough that you can get a bargain. If you have deposits
with banks that are in trouble - are they safe? What if the bank you owe money
to goes under - does that mean you still owe the money (yes it does). These are
all things too look at.
If you are someone who usually
ignores what is happening in the economy, than it is time to pay attention.
Don't get caught up in the doom and gloom. Remember that the world works in
cycles. There are good times and bad times, good economies and bad economies.
This is a chance for you to look for opportunities for you to learn, and plan
for your future. Just remember that with every doom and gloom there is
opportunity. Where is yours?
It could be learning how to manage
your money and plan for your future so you are "recession proof". It could be
talking to a financial advisor and finding out what your opportunities are.
Whatever it is don't hide out - create this as an opportunity to learn and
create power with your money.
So how do you survive this
"recession" the world is possibly going into? Recently I posted this on a forum
I belong to. I also posted it on my "What's
New" page so you may have seen it there, but it is relevant to everyone.
"I am a Canadian that just spent 5
days in Las Vegas. I was amazed at how quiet the town was. It is showing that
there are issues out there. People aren't spending or don't have the money to
spend on luxuries or entertainment.
My advice (coming from a Money coach)
- Take care of your own house first then encourage others too as well. That
means cut your spending, pay off your debt and save more. Live BELOW your means.
Make a plan and stick to it. You are the only one in the long run (or the short
run for that matter) that will be able to take care of yourself and your family.
So when these times come - and they
will come as mentioned earlier - you can ride through them.
Then encourage those you love and
educate them on what they can do to protect themselves and take care of
themselves. As with any crisis education is the long term solution!
Make a plan - Building for your
future and having something that is yours and you are in control of will help
you ride out the bumpy times. "
Would you like to share how the
"financial crisis" is affecting you and your family? Please send me a
note here. I
would love to hear how you are turning this crisis into an opportunity.
Also check out our Funny of the
Month. And of course there are the new tips on
saving money with a bonus tip this month!
We are always looking for ways to improve the site. If you see any errors
or would like to contribute in any way, we invite you to contact us at the
Contact Us page.
Thanks for reading and enjoy this month's Moneyzine!
Till Next Month,
Melanie Fine, CPA
Go to Top
A Joke that seems
to fit the times!
A young college
co-ed came running in tears to her father. "Dad, you gave me some terrible
financial advice!"
"I did? What did
I tell you?" said the dad.
"You told me to
put my money in that big bank, and now that big bank is in trouble."
"What are you
talking about? That's one of the largest banks in the state," he said. "there
must be some mistake."
"I don't think
so," she sniffed. "They just returned one of my checks with a note saying,
'Insufficient Funds'."
Do you have any great jokes about money, or money and
relationships? Submit them on our
Funny Money Page.
Go to Top
Frugal Travel
- Learn some tips on how to travel and save money at the same time.
Frugal
Food and
Meals - Learn
some tips on how to plan meals and shop for food while paying less.
Frugal
Holiday Season
- Check out some ideas to save money and still have a fabulous holiday season.
Go to Top
To find more Tips on saving money, or to add your ideas, please check out our
Best
Ways to Save Money Page.
Barter whenever you can.
Great way to cut expenses and spending cash. Offer to babysit your neighbors
kids once a week if they cut your lawn when they do their own. Look for ways to
get what you need by exchanging something you have - skill or goods - with
something you need.
House Swap
Oprah recently had an episode that showed 2 couples who couldn't sell their
houses in these economic times. So they turned to being creative, found each
other online and swapped houses.
Food Shop at Farmer's Markets
Shop for your produce at farmers markets - lower overhead usually means
lower prices!
Do you have any Money Saving Tips you would like to share?
Please
send them by filling out the form and we will publish them on the site.
Go to Top
Thank you for reading the October Issue of Moneyzine. I hope you enjoyed it
as much as I enjoyed writing it. Please feel free to contact me with any
questions at
our
Contact us Page.
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website.
Till next month,
Melanie Fine,
CPA
www.transformyourmoney.com
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