GREENSBORO, N.C. — The stock market is up and down all around. Inflation is still up, the latest numbers show you're paying 2.9% more for gas, food, and shelter than you did a year ago. The silver lining, the inflation numbers mean the interest rates will most likely go down next month.
All that money talk is either white noise or makes you panic. Money experts say you need to be right in the middle and you need to do something about it.
"They definitely should be paying attention but not paying attention to the point of panicking Let's start an actual pattern now. So even if it's paying down a credit card debt, $100 or $200 if it's paying down, you know, student loans and so forth, or you're actually getting your emergency fund together of $1000. What this is, is about getting started. It is being in a different place tomorrow than you are today financially," said Ja'Net Adams, Debt Sucks University.
Today and tomorrow are one thing, but what if you're worried about your retirement money? And what if you're set to retire in five or 10 years? That changes things.
"Ten years from now, you are going to see a rebound in your portfolio five years from now, you got a little bit less time and so your appointment with your financial advisor probably is a little bit more to the end of 10 years. This is something that you need to really have expert advice on to make sure you're making the right decisions for your life and your financial goals," said Adams.
Ja'Net's three P's:
Don't Panic
Pay attention
Start a pattern of payment, whether that's to debt or your emergency fund.
