This article is by editor Linda Vergon.

Last month, the December 2015 Consumer Confidence Index ®, showed improvement over the previous month:

“Consumer confidence improved in December, following a moderate decrease in November,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “As 2015 draws to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market. Looking ahead to 2016, consumers are expecting little change in both business conditions and the labor market. Expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists.”

But just a couple weeks into the New Year, with the stock market still reeling, people may be more concerned about the economy. So now that we’re smack dab in the middle of the first month of 2016, wherein we at Get Rich Slowly are concentrating on taking charge of our finances, I wonder how it’s going for everyone. Do you have the same confidence?
Easy changing to hard - or vice versa

When the going gets tough

So perhaps it hasn’t been the most inspiring start to a new year. Should we let that fact deter us? No. In fact, it’s time to get going, as they say.

Next week, we’re bringing the focus down to how to save and get out of debt when it gets tough. In difficult times, it’s even more important to be able to find a path toward your goals despite headwinds or setbacks. But today, I want to ask about your perspective. As far as the economy goes, how do you see it? Here are a few questions to serve as a jumping-off point:

  • How long has it been since your wages went up?
  • How would you accommodate an unexpected expense of, say, $500 to your budget?
  • Is it difficult to add to your savings account?
  • What is the biggest threat to your retirement plan?

Pick the question that means the most to you or answer them all if you like. Maybe even include what you think would solve or address the issues you see ahead of you.

Readers, is your route to financial independence changing this year? What is your plan when the going gets tough?

GRS is committed to helping our readers save and achieve their financial goals. Savings interest rates may be low, but that is all the more reason to shop for the best rate. Find the highest savings interest rates and CD rates from Synchrony Bank, Ally Bank, and more.