Almost any consumer can do a few simple things to make their finances even stronger in the years after the worse recession most people have ever seen. These ideas can get any family through the worst of hard times.

1. How to Manage Your Finances during Tough Economic Times
Almost any consumer can do a few simple things to make their finances even stronger in the
years after the worse recession most people have ever seen. These ideas can get any family
through the worst of hard times.
1. Get Rid of Products and Services You Don't Need:
You don't want to start the habit of spending without thinking about where your money is
going. To avoid this, you will need to keep track of all the things that you buy, as well as
their prices. When you go through your list, start eliminating all unnecessary expenses.
You'll want to ensure that you're not spending money that doesn't need to get spent.
2. Start an Emergency Fund:
Studies have shown that the average American family will spend about $2,000 on
unexpected expenses. If you already have enough trouble paying the bills you already
have, this problem can act as the start of longer-term financial issues. While you can't
know when trouble will arise, you can plan for it.
One thing you can do is to save at least one year's worth of living expenses in a bank
account, CD, or money market account. Try taking 10 percent of your income and putting
it towards your emergency fund.
Make sure that your saving strategy is automatic. One way to do this is to ensure that the
money gets automatically deposited into your account. This way, you won't get tempted

2. to spend money you never see.
3. Cutting Back Instead of Cutting Out:
For many families, scaling back on some products and services can work well. Many
people would find that doing without certain things would not be desirable, even if it
inflates their budget.
Look at the services that you get but don't use heavily, like a premium cable channel or
an unlimited cell phone plan. Can you get a less pricey option that will still give you
everything you need? See if you can bundle services to save money.
4. Do More Work:
Now that the economy has regained its strength, companies in many different industries
look for qualified candidates every day. It might seem as if having one job with a decent
salary is enough to weather most storms. However, freelancing or starting a side hustle
outside of work can give you more than enough money to furnish your emergency fund
and help with bills.
5. Don't Create New Debt:
Avoid credit cards unless you are sure you can pay off all your balances at the end of
every month. If you don't trust yourself with credit, switch to using cash and debit cards.
6. Fund Your Retirement:
Most people do not want to work a 40 hour a week job when they're 85. If you don't want
to work in your 80s, fund your retirement while you're young. Keep putting money into
your retirement fund unless you're undergoing a financial catastrophe.
Yorkville Advisors, LLC is a privately owned hedge fund sponsor. The firm also provides
specialty financing solutions to its clients.