Tent…check, sleeping bag…check, trail mix…check, water…check, fire starter…check, shovel…check. Ok audience, who knows the activity we are about to embark on based on the list provided? If you guessed standing in line for the newest Apple iPhone, you would not be wrong, but that is not what we are talking about today. Camping was the correct answer. There is something about leaving the comfort and safety of your home, heading out to a remote location where you can no longer hear the hum of cars on the road in the distance and becoming “one with nature.” Often though, the enjoyment from this type of experience comes in large part from the preparation you put in prior to the trip. Just like each component of our camping list helps us cope with some kind of risk, there are things you can do now that help prepare your cash from the unexpected as well.
With today’s focus on banks: here are some tips we recommend for cash management (note: these are relevant anytime, not just this week):
We know there is much going on in world right now. Currently the banking sector is in focus, not to mention war in Europe for the first time since World War II. Additionally, back in 2020, covid caused great uncertainty as the global economy was forced to shutdown to deal with the pandemic. The point is, both recently and throughout time, uncertainty is unavoidable and will always be there.
The Cambridge Capital Management, LLC Investment Committee.
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