With economic indicators fluctuating wildly, it’s impossible to know when the economy will recover; so many households are still struggling with the task of making ends meet. With the foreclosure rate in 2009 rising by 21 percent with nearly 4 million homes lost, the worries are very real.
However, one expert believes that the key to weathering the storm may already be in your possession. Donna Every, author of What Do You Have in Your House? from Tate Publishing (www.donnaevery.com) has learned that pulling from the hard assets already in your home and the often overlooked assets inside yourself can help keep the ship afloat.
“When times get tough, some people feel it is their lot to sit back and accept their ‘fate.’ However, I have seen the best that human potential has to offer, so I don’t accept that – and neither should anyone else,” said Every, an MBA who is also a former Ernst & Young chartered accountant.
“We can make things happen because we all have some gift or ability, some skill or some resource that we can use to transform our financial situation. All we need is the faith and determination to make it happen.”
Every’s tips for getting through the tough times include:
• Liquidate dormant assets – With the massive wealth accumulated in America, most people have possessions or property of value sitting in their attics or garages. With the advent of craigslist and eBay as online sales resources, many of these dormant assets can be turned into cash.
• Mine overlooked assets – Everyone has something they do well, and if they do it well enough, it’s not much more difficult to market it. Some people can sew and cook, while others are artists or musicians. In most households, just making a little extra money every month can make all the difference, so part-time jobs doing something you do well can help fill the gap.
• Keep the faith – Belief in yourself, your motivation and your abilities is a far better path to tread than to give in to despair when the tables turn against you. Meeting challenges head on can not only save the day – they can also change your life.
“Our financial situation is a result of the choices we make,” she added. “Choices made out of fear and anxiety are never the right ones. We need to make sure that we are making the best possible choices.”
Connect with NJTODAY.NET
Join NJTODAY.NET's free Email List to receive occasional updates delivered right to your email address!