Sunday, June 29, 2008

Bear Market and Bear Bank Account

Two items to think about this post:

(1) Bear Market - I believe this week will continue to see the market decline, but not as badly, as investors began to see some discounted values out there. However, with the European Central Bank poised to raise interest rates, which will shore up the Euro and cause the Dollar to fall, we will also see oil prices continue to shoot upward.

Additionally, financial stocks are still being targeted by both investors and rating agencies as the fear of more write downs to come applies continuous downward pressure on those stocks.

(2) Bank account - For regular readers, you are all aware that this month has been financially very bad for me. After tallying up everything up to today (with 1 day left in the month to go), I am about $1,100 above budget on spending. I need to be very careful next month to ensure I have enough funds in my bank account to cover all my bills.

Just as important is my continued plans to recover from this month. Tomorrow, I will reset my budget to be in line with rising costs of food and gas, while also setting aside money to pay down debt.

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