It sure feels like the eye of the storm if you ever found yourself in hurricane country like I have. I feel next year we will see the storm passing us by; depending on future government decisions this storm could be a class 2 or 3 to a class 5. The latter being the worst. I remember the old tale of the grasshopper and the ant. The ant saved all summer long for the winter; the grasshopper just sang along and enjoyed the nice weather. I hope you take the ant's sample and save for a rainy weather and the winter to come. Next year's indicators and surprises will come very quickly, with companies reporting records losses, they probably will lay out thousands of workers. I suggest to have a plan b and even c, just in case. At Barca Financial, our first step is to build an emergency fund for our clients who finds themselves with short cash flow. It is amazing how quickly one can accumulate resources; given some discipline and understanding of individuals goals. One may have to choose for a must have product/service or nice to have product/service. We have lived in the nice to have world. The savers will be fine. The spenders will have to make hard choices next year. Start with a financial plan or a simple family budget. It will pay off during this Depression. That's right a Depression. It took almost a year for someone to call it a recession. How long will it take for them to start calling it a Depression. We, as Americans are very resourceful; let us take the first step, one step at the time. Start saving.
Happy New Year