You’re probably thinking: can this election be over already?! I’m thinking the same thing. Here are some other things to think about as we prepare (perhaps brace?) for Tuesday.
- Expect some chaos
There will be wackiness in the stock market. Just know that going into Tuesday. This happens every time a new president is elected, no matter who it is. Focus on keeping your emotions in check instead of what you should buy, sell, or do with your financial future. Things won’t get as bad as the pundits predict and they won’t get as great as others claim. Whatever you do, don’t make any emotional financial decisions.
- Prepare your move
I’m not talking about your move to Canada. Maybe you said you’ll move if your candidate loses but few people actually go through with it. What I mean is that you plan your spending moves for the next year – the same way I suggest you do every year. Come up with a solid budget for 2017.
Very little, if anything, will change about your money in the 12 months after our new President takes office. However, by getting your spending on track in 2017, you’ll be in the best position to make smart moves in 2018 when we MIGHT see a change in the direction of our dollars.
- Don’t let them define financial success for you
Both candidates have faced serious accusations of making money through some shady means. Just because the president did it that way, doesn’t mean that you should. I know, it’s easier said than done because we do as we see and not as we hear. Adults are as guilty of this as kids.
As much as humanly possible, avoid using the president as your model of financial success. The science of happiness says that having millions or billions of dollars, whether earned from noble or illegal activity, doesn’t correlate with your happiness or well-being. It depends how you use the time and money that you have. Money is a tool for happiness, not its source. Since money is a tool for happiness, focus on what you do with the tool, rather than how big it is. (I realize there’s a joke in there, but I’ll just leave that one alone 😉
All that being said, it’s incredibly important that you vote, and not just for President – there are some monumentally important down-ballot candidates and issues that are going to be decided. It’s not too late to look them up and make your voice heard.
Happy voting!
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