Be aware, but don’t get carried away
Posted by : Raj | Posted on : Friday, January 23, 2009
Reading a few personal finance blogs today I couldn’t help but realize that there are so many posts recently about understanding the the recession and macroeconomic assessments. Personally, I can’t stand all the negativism in them. It’s not going to help at all. People need to keep in mind that the macroeconomic situation doesn’t always affect us on a micro level.
There is obviously significant value in following the news, understanding how the bank crisis affects your personal bank, or understanding how the housing market is being affected (especially if your a home owner), but lets not get too carried away. The news is sensationalized a great deal, otherwise you wouldn’t watch it. Take what you hear on the news with a grain of salt and understand that not every “dooms day” event predicted will occur or will affect you at all.
What is far more valuable that getting scared by the news is to truly understand your personal financial situation. Using a tool like BudgetPuluse is mission critical in understanding where you sit financially and how to react to the “huge” news stories.