So, we're officially in a recession now, but instead of repeating the mantra of doom and gloom to yourself, look for the positives out of this:
- Gas is extremely low and will probably go lower. An increase is unlikely in the near future.
- Inflation is actually pretty low (3.66%) and may actually drop.
- Consumer prices (related to inflation) dropped as well, hence why Black Friday was so nice this year (I hope you took advantage!)
- Interest rates are really low on existing debt (i.e. student loans, mortgages). However, pay off those high interest debts immediately.
- The dollar is generally surging against other currencies because the world still believes that we are the bedrock of the world's economy, thus vacations abroad are cheaper right now.
- Great time to buy a car (GM, Ford, and Toyota all dropped more than 25% in sales), thus prices and discounts are much higher right now.
- Charitably giving is actually either maintaining or increasing despite the economic times.
- Wonderful time to pay off loans against your 401(k) or pay into your retirement vehicle because your money will buy you more shares. Do it!
- And finally, recessions are cyclical, so we're just in that place right now, but this too shall pass.
4 comments:
Thanks for the good news! Can't wait to see you two again and meet Hoosier!
Likewise! Hopefully this time you can talk without killing your throat :-) Hoosier and us are very excited to come see you too!
Thanks for pointing out the positive! I can always count on you to be optimistic.
Of course! There's always more good out there than we hear about :-)
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