MONEY MATTERS

Essentially, the 3 "safe" places to invest your earnings at this time are: CD's, 401k's, and money market accounts.

As this is not the first or last time in history that the market has been in a decline, it isn't the worst either. The first and most obvious thing to do is to NOT take any money out of your 401k because of the penalties. You think that if you decided to withdraw the $3,000 or any other amount from your 401k, it will do you good but your a** will get taxed as if you never saved anything at all. Desperate times indeed but make every move a smart one. Think about it thoroughly. Also, very few employers are matching these days so, that is beneficial to those who have it.

Loan providers such as Sallie Mae, Freddie Mac or Lehman Brothers do not have the resources to loan money to those who need it for educational purposes or auto loans because the banks that provided them with it are now left in the cold. Basically,the bailout bill only "bailed" out these huge corporations and the banks, such as Bank of America, are experiencing the worst of it all. They'll never get the money they loaned back even after the "Financial Rescue Legislation" as what it is now referred to.

I have concluded that you need two things to save yourself from all this headache: SAVE & SAVE YOUR MONEY WISELY AND SPEND LESS THAN EVER BEFORE BECAUSE REGARDLESS WHO GETS ELECTED PRESIDENT, NO ONE CAN HELP YOU OUT BUT YOURSELF.