Dr. Slava Shut

It’s been a crazy March, and not just because of your bracket.

With Silicon Valley Bank going under (and other banks following suit), an economic winter approaching, and the NCAA basketball tournament underway, it’s any wonder people are stressed.

But where do we go from here? And how do we move forward? Here are three ways to make sure that you keep your cool and remain in a stable financial position.

1. Save It for the 4th Quarter

If you’re able, make sure to continue saving by setting aside a percentage of your paycheck each month, no matter how small. If you’re able to set aside more, consider investing it accordingly. Did you get a tax return? Start there!

2. Move Forward, Not Back

There’s nothing wrong with being informed about the current financial situation, and there shouldn’t be any shame or fear associated with starting to pay attention to your finances. But it can also feel like an insurmountable economic roadblock.

Should we stop in our tracks, or start stuffing money into mattresses? Absolutely not. If you know me, I’m all for pushing along when it seems like there isn’t a way forward. Taking a proactive step when everyone takes two back might not feel like much, but it move you three full steps ahead.

3. Don’t Bust Your Bracket

Don’t put all your financial eggs in one team’s basket. Interest rates will rise and our financial troubles are only in their burgeoning stages, so now’s the time to assess where your money’s coming from and how you can diversify income streams. (Bonus points if those income streams are passive.)

Regardless of how much money’s sitting in your bank account, I can guarantee there are better places to put it. Looking into options like an IUL and other insurance options can, in most cases, provide a better return and make your money work for you.

Starting Preparing Now 

With all that said, there’s still plenty of time to act. If you’re unsure where or how you might be able to make your money work for you, book a free one-on-one consultation with me, Dr. Slava, and I’ll walk you through all of your options!