During these hard economic times, it is important more than ever to be smart in safeguarding your money. Managing may not be intelligently easy right now, but stay calm and remain focused. Making careful decisions today could save you and your family from bigger problems down the road.

Here are some good ways of doing it:

1. Stash enough emergency cash. Everyone needs an emergency funds for emergency situations. It may be hard to find where to stash that cash in uncertain times, but certificates of deposits is an option.

2. Pay down your debt. If you have accumulated credit card debts but, at the same time, want to have an investment that will also give you a guaranteed return then prioritize paying off the credit card debt first. Paying down credit card debt with a typical interest  rate of 14% is like having a 14% return on investment. With more reason that one should pay off credit card debts as this will later on affect your credit score as banks are now tightening their credit limits.

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