There are a lot of things that you need to think about when you start looking at all of the options that are out there in the stock market. There can be issues with the stock market and it could affect you, even if you aren’t in a situation where you may be dealing with problems in the world of stocks. There are a lot of ways that you, even if you’re a trucker, could end up being affected if the stock market starts to have any sort of trouble at any point in time.
1. Starting a small business. Really? Yes, if your aspiration is to start a small business, whether with Trucking Jobs or something else, you better do it before the stock market dips. Most people start small businesses off of their own savings, which, in a poor stock market, are a lot less due to the cost of living being higher and interest accrued being lower. It also is a scary place to be when starting a business; there’s not as much money being put into small businesses, so your start-up may be more of a struggle then you’re bargaining for.
2. Buying a house or car. It is not always easy for anyone to get a loan, even though the interest rates are the lowest that they have been. Banks just don’t want to give that money to just anyone; they want to make sure that they’ll get that money back promptly. So, you want to make sure that you have everything stable and in order so that you don’t need to worry too much about anything that may be going on in certain situations in that regard as well.
3. Education. Yes, even educational loans will be more difficult to get. You may insist that you’ve been saving for your child’s education for years. While this is true, the interest rates are lower meaning that you’re earning less money on that account. Education on the whole is going to be harder to pay for.
4. Selling a House or Car. Because of the fact that it’s going to be harder to buy a house or car, it’s also going to prove more difficult to sell those items as well. You won’t be able to sell your home to just anyone. Buyers have to pass a more scrupulous credit check than ever before, and the process will just get longer while banks become more hesitant. So, you may find that buyer, but not be able to sell your house for up to a year afterwards. Yuck.
5. Employment and unemployment. With the cost of living going up, your benefits will most definitely go down, especially if you’re fresh on the job hunt. They won’t cut much if you’re already employed, but they may a bit. Unemployment is going to be harder to get, and those extensions that you’ve been enjoying? They may be no more as the government struggles to help the economy get back on its feet.