PERSONAL FINANCE: SHELTER FROM SUBPRIME FALLOUT 3

The windfall from the “stimulus” bill can provide some shelter from subprime fallout.

In addition to paying down debt to stave off arrears or default in credit card and mortgage payments in the looming tough times, another productive use which will have an effect longer and more permanent than paying down debt is to enroll in a skill-upgrading course.

For those who remain employed in a company that has not yet undergone downsizing, an additional skill or a higher level of proficiency will add value to the employee’s status in the company, so that –if / when the company does go into downsizing– the additional skill or higher level of proficiency may act as a shield against being included in the list of employees for retrenchment.

For those who have already been turned out of their jobs, the additional skill or higher level of proficiency can open up more and better re-employment opportunities.

Images from Microsoft Clipart