Edward Goldberg, a certified financial planner with Sagemark Consulting, talks about what you need to know when investing during uncertain economic times.
With the holidays approaching, here are some tips from Goldberg to make sure you don’t spend too much:
- Don’t run up a lot of credit card debt. While mortgage rates are low, credit card rates are still way too high.
- Allot a certain amount of free cash flow per week.
- Pay cash if possible.
- Allocate what you’re going to spend beforehand and have the discipline to stick to it.
- Transfer any extra money into a savings or separate holiday club account.
- By the way, 70 percent of our economy is driven by consumption, so spending is actually good for the economy.