Are you prepared for upcoming changes or do you wait for them to happen and then try to react?

Are you prepared for upcoming changes or do you wait for them to happen and then try to react?

To give a simple example, last year when gas in the US went up over $4 a gallon, people started to panic and looked into trading in their cars and finding something more economical. Then prices came down to under $3 a gallon and people stopped thinking about this anymore,

Do you really think prices wont be going higher sooner or later? This is true for gas prices or electricity or other forms of energy.

My point isn’t to be an alarmist who thinks the world is ending but rather, that people should prepare for the future and have contingencies for anything that might happen.

The time to prepare is when everyone isn’t panicing. Just as an example, if you wait for gas to go up to $5 a gallon and then start looking around for a more economical vehicle, it’s when everyone else is looking so demand will be up and supply down and therefore the price is up. Worse case scenario, you are “stuck” with an economical vehicle.

There are many examples of how planning ahead can benefit you if things change and in many cases, they will also benefit you if things don’t change.

At the very least, make sure you have plans for potential changes in the future. You might surprise yourself how easily you can prepare for them

Have a great day!

Lawrence

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