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Follow on Google News | Real Estate Agent in Murfreesboro explains, Stay Away From The Old Bad Habits. In Middle TN RealtorNow with the economic trends of higher consumer spending and healthier stock markets, many Americans are pointing to evidence that we are out of the recession.
By: mbororealestate.com mbororealestate.com Home of the no risk listings. When you let us help you sell your house we will allow you to cancel the contract at anytime. Now with the economic trends of higher consumer spending and healthier stock markets, many Americans are pointing to evidence that we are out of the recession. Looking back, the recession did change some people’s financial habits, but the resurgence in the economy unfortunately means most people are returning to their old ways of saving and spending, which aren’t always wise. The stock market is higher, more people are returning to investing. That’s good news to the market but not to personal returns. Many people rejected investments during the recession, which created the best investment opportunity in many of our lifetimes. Investing now that the market is higher only means the returns will be smaller as there is less room to grow. The same is true with spending is resulting. We may be spending more, however prices are not as low as they once were in many cases. Stores have stopped discounting heavily because shoppers are returning. Still, the recession has changed some of our habits. Many of us are now valuing frugality as a permanent part of life versus just resorting to at times. Like in the 1930s, Americans became scared after all the suffering and were permanently changed to keep as much as they can for fear they will lose it again. The ones who remain frugal are the minority. 20% of Americans remain frugal after a recession. Meanwhile, 30% return to their previous spending levels. The other half don’t change at all, either because they can’t (they don’t have enough money) or they don’t need to (they have enough much money). Research indicates that most Americans don’t change much after a recession and are likely to end up where they once were. In other words, many of us don’t plan for recessions; we just ride along with them. For most of us putting together a recession plan is a neglected strategy in financial planning. Budgeting and coming up with a plan of action when money is tight is a valuable practice to get in the habit of doing. This would include building and maintaining an emergency fund to cover expenses during a financial disaster such as a job loss. Another wise move would be to have saved money for purchases when the stock market and prices go down. A good financial planner will present these different scenarios to help draw up a disaster plan. With what many Americans have just gone through, knowing what to plan for is a lot easier. But it seems easier said than done. While it’s good to let loose of some of that savings, but not give away the farm. Please feel free to call or email me anytime. Mike O'Donnell 615-473-5684 Tema@comcast.net mbororealestate.com Home of the no risk listings. The number one reason home owners who are thinking of selling are hesitant to sign up with Real Estate Agent is they are afraid of the long term contract. Now we’ve removed that problem. When you let us help you sell your house we will allow you to cancel the contract at anytime. If we are not living up to what you expect from a realtor or if for some reason you change your mind we will cancel the contract that day. Now that’s peace of mind. # # # As a FULL TIME realtor in Murfreesboro TN, I can and will devote whatever time is needed to help you meet your real estate needs. I treat each client with respect and dignity whether the property you are interested in is worth $5000 or $5,000,000. End
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