Wheatworks Blog: Financial Matters

One of my favorite sayings:

‘You don’t need a weatherman to know if it’s raining.’

It’s easy to become confused when you read what different financial professionals are saying about the economy. Depending on who you choose as a source of information, this is the best time to buy or the top of a real estate bubble. Consumer confidence is high or the economy is about to tank. One stock analyst says, ‘Sell!’, while another encourages you to ‘Buy Now!’

It’s nearly impossible to find an unbiased source of financial information. Even the government-generated data is questioned on financial blogs by professionals who believe the government has it’s own reasons to manipulate data.

That’s why I like, ‘You don’t need a weatherman to know if it’s raining.’

I usually don’t worry much about the national weather map. I’ll take a look at it if I’m traveling, but generally, I need to know whether I need an umbrella with me where I am. Folks somewhere else may have rain. But if the sun is shining in my yard, I’ll leave my umbrella at home.

I know, too, that I can’t stop the rain. If the national economy tanks or expands, I’ll not be able to stop it. I’m only able to manage my own finances.

So, remember, you don’t need a weatherman to know if it’s raining. Look at your checkbook, your paycheck, your loans and credit card accounts.

Don’t let the distractions of the national economy cause you to lose sight of what’s happening in your own backyard. You don’t need an economist to know if your budget is tight. If it is, you’ll focus better on your personal finances if you avoid the distractions of media jabber about macro events.

If it’s raining in your yard, it’s raining where it matters to you.