10 Ways to Protect Your finance From the Crisis
by Brett Arends
Monday, September 15, 2008provided by[pic]
[pic]Here are ten things that this financial consternation means for you.
1. Check that your bank accounts are federally insured. The federal official Deposit Insurance Corporation (FDIC) guarantees deposits up to $100,000 per person. If you go for to stanch more than that, spread it across multiple banks. As a taxpayer you are paying for this insurance. Use it.
2. Make sure your brokerage firm accounts are federally insured, too. The Securities Investor Protection Corporation (SIPC) guarantees you at places equal Lehman Brothers, Merrill Lynch, E-Trade and the like up to $500,000, including $100,000 worth of cash. The same rules apply: If you have more to invest, spread it across multiple firms. Note: The SIPC is solo there to make sure you give birth your shares and bonds back if a brokerage fails. It does not, obviously, guarantee those investments value.
3. Put money in thy purse. If this commercialize and this economy get any tougher, cash isnt just firing to be king any more. Its going to be king, queen, emperor, professional high chamberlain, and the whole court including the royal cat and delirious prince Ruprecht locked in the attic. The easiest way to make or find a buck is to save it.
So take an axe to those family budgets. The restaurant meals. The Super Duper Everything Cable package. The rip-off checking account with the high fees and disordered interest. Its all costing you.
4. Set up a headquarters equity line of credit while you still can. I usually dont like advising people to take on more debt, but if access to ready cash might be a life saver its best to line it up. Thats in particular true if you are worried about your job. Credit is already tight, and it may get a lot tighter still.
5. Refinance your mortgage. The alarm on Wall Street just caused a get around in the interest rate on long-term US Treasury bonds, as lots of investors rushed there...If you want to get a full essay, order it on our website: Orderessay
If you want to get a full essay, wisit our page: write my essay .
No comments:
Post a Comment