Barbara O’Neill, Ph.D., CFP®
Extension Specialist in Financial Resource Management
Rutgers Cooperative Extension
With a fragile economy, high unemployment rates, employee benefit cutbacks, and other negative economic realities, it seems like there is one source of financial uncertainty after another in many people’s lives. Research indicates that “feeling out of control” is a major cause of unhappiness and stress. Most people don’t like living without at least some type of game plan. That’s why commuting always ranks high as a major source of unhappiness in life. Commuters often run into unplanned obstacles such as traffic snarls, road closures, and weather-related incidents over which they have little or no control.
What to do? Control what can about your personal finances and develop contingency plans for negative life events. Below is a description of six strategies to take charge of your finances during uncertain times:
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