The State of the Economy in Utah

There is quite a supply of happiness in Utah. Somehow we seem to be weathering the economic downturn better than many states. Salt Lake City’s economy is predicted to ride out recession or slowdown. Still, it’s hitting. Btw, you should read that article if you live in Utah, because it’s a welcome break from all of the bad news!

Here’s the bad news: more Utah’s are going bankrupt. 6,597 Utahns have filed for bankruptcy during the first nine months of 2008. Compare that to last year during the same months – when there were 4,633 Utahns who filed bankruptcy. There are reports that people are having a tough time finding affordable housing as demand for housing is rising.

Whatever the economy, it’s important to plan for the future. Not live in it or fear it. Simply plan. We usually aren’t as good at planning our finances as we hope. My husband reminds me of people he knows who insist on doing their own financial planning. None fair as well as his clients whose money he is helping them manage. Usually we do better having outside advice and assistance. I know I do.

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