Yesterday, a barrel of oil hit a record high of $145 a barrel due to unprecedented demands for this black gold. US employers cut 62,000 jobs and the US unemployment rate is now at a shocking 5.5%.

Locally, our stock market Bursa Malaysia was suspended due to a “technical glitch”. Was it really a technical glitch or was there more in light of the downward trend of the Dow Jones and the worldwide economy?

It seems to be a time of doom and gloom where recession and inflation start to creep up in every conversation. It is a time to tighten our belts and start to relook at how best we can manage our money to ensure whatever we have is not eroded by soaring inflation rates and still maintain a decent lifestyle. Join me as I explore how to manage my personal finances with MySmartMoneyTips.com!