The Future is Uncertain: Stay Prepared by Following These Financial Tips

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Whatever your political inclination may be, it’s safe to say that we live in uncertain times. Let's face it: It’s difficult to remember a time when we were more divided from a social, economic, and political angle. 

With our future more uncertain than ever, who knows which way the political winds may blow? Could the next economic meltdown be just around the corner? How can we anticipate what kind of world our children will live in?

We're clueless about how the housing market will look in 20 years, what the cost of a loaf of bread will be in 2025, or how much a dollar will be worth when we retire. 

Needless to say, adequate preparation is critical to our protection against future risks.

So let's get real. When faced with the prospect of an uncertain future, are you truly prepared? Here are 3 strategies to anticipate the unexpected. 

Get on that property ladder.

If you’re a current property renter, you're well aware that the cost of private rent is becoming ridiculously high and steadily increasing every year. 

As the population grows and the cost of living escalates even as our wages stagnate, the idea of owning our own property is becoming increasingly out-of-reach for those on a low-to-middling income. 

Plus, private landlords hike up their rent in response to the increasing demand.

By getting on that property ladder as soon as you possibly can, this can help prevent yourself from falling into the grasp of an under-regulated and often exploitative private rental sector. 

This initiative does require a sizeable down payment, which takes us to the next important component. 

Consistency is key.

Your savings essentially serve as your passport to a brighter, more stress-free future. 

Think about it: how much money do you need to retire? How much will your current pension provision cover? 

As we face the growing challenges of an aging population, it's difficult to determine how much your current IRA will be worth when the time comes to use it. 

This is why you should always supplement your retirement savings with a robust savings account. This can help you prepare for the future, and the countless little expenses that tend to pop up out of nowhere.

However, keep in mind that savings only work when you pay into them consistently. Therefore, make sure that you're saving up something each and every month to insulate yourself against future risks. 

It’s okay if you need to scale it back when the times are lean, as long as you're increasing your contribution in more lucrative times. Treat it less like an optional extra, and more as a fixed expense.

Hustle now, nestle later.

If your current financial situation simply isn’t conducive to setting aside some savings every month, it’s on you to rewrite your fortunes.

If your day job isn’t bringing enough money in, why not devote some of your free time to starting up a side hustle? 

Side hustles are a great way to make extra money while simultaneously growing your skills and networking. 

An added perk: You might find yourself starting up a business that frees you from your day job's constraints. (And that's an idea we can all get behind.)