Do These 8 Things to Profit From the Improving Economy
After several years of sluggish growth, it appears that the economy is getting better. Unemployment has dropped. The stock market has been setting record highs. But are you poised to take full advantage of the rebound? (See also: 8 Ways Rising Interest Rates Can Help Your Wallet)
Here are eight ways to position yourself for the best result once the economy kicks into high gear.
1. Pay Off Debt
If the economy is getting better and you find yourself earning more, getting rid of debt should be your first priority. The last thing you want is to miss out on an economic boom because you're handcuffed by loans and credit card bills, so pay that stuff off. And do it fast, because a good economy often comes with higher interest rates. So if you have debt, it's best to rid yourself of it before it gets pricier to pay down later.
