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Political shifts and terrorist alerts are a given, but there are other trends you need to be aware of that could directly affect you financially and professionally this new year. "In the past we could expect our tomorrows to look just like our yesterdays," says Nat Irvin II, founder of Future Focus 2020 at Wake Forest University's Babcock Graduate School of Management in North Carolina. "Now change is so rapid that you will be surprised by some of the things that will happen tomorrow."

Some trends can be resisted--with action. Others can be planned for so that you may even end up ahead. "If you are not looking at trends for the future," says Irvin, "chances are you will miss out on opportunities to improve your life and create wealth for you and your family." While futurists don't work with a crystal ball, here's some of the writing on the wall for 2005:

1 STAGNANT JOB MARKET, MORE SELF-EMPLOYMENT The job market is not what it used to be, and by most accounts it is getting worse. According to the U.S. Census, the population is growing more rapidly than the number of jobs being created. That's a sure prescription for a stagnant employment forecast, says William Spriggs, Ph.D., director of the National Urban League's Institute for Opportunity and Equality in Washington, D.C. And even when work is available, employers are offering fewer benefits--less health care, overtime and sick and vacation time, and fewer retirement plans. What to do? If you have a job or are looking for one, make sure to keep your skills updated. A course or two at a community college is an affordable option that can make your resume shine. So can community job-training programs. Also consider self-employment: Two hundred thousand people started businesses or entered the ranks of the self-employed in 2004. Investigate courses offered on how to start a business by the National Association of Women Business Owners (nawbo.org).

2 HIGHER INTEREST RATES, MORE DEBT The Federal Reserve Bank started nudging interest rates up in mid-2004, and rates will continue rising this year. When the price of money goes up, debtors pay more. Mortgages are likely to be more expensive, and the interest rate on credit cards will also increase. Already Americans owe more than $740 billion in revolving credit and pay interest rates of as much as 25 percent. African-Americans are more likely than Whites to have high-interest credit-card debt, which erodes our ability to grow net worth. What to do? Understand the difference between good debt and bad debt, and borrow accordingly. Good debt is a loan for a house, a business or an education--something that will increase your net worth. Bad debt means financing something that depreciates as soon as you sign the receipt, like charging for clothes or a trip. If you intend to borrow, shop around and look for the best terms. This may mean taking steps to raise your credit score (see ftc.gov/bcp/conline/pubs/credit/repair.htm for tips on repairing credit).

3 RISING OIL PRICES

Oil prices soared to more than $50 a barrel in late 2004, and pump prices in some cities climbed to as much as $2.50 a gallon. With international demand for oil increasing and supply limited by the war in Iraq, gas and oil prices will likely continue to go up in 2005. What to do? Conduct an energy audit. Are your appliances efficient? Can you weatherproof your home to save on heating costs? Do you turn out the light when you leave a room? Can you join a car pool? For ideas and options, log on to altenergy.org.

4 GENTRIFICATION Thanks to rising commuting costs, cities are now the place to be, especially for families without children or those who can put their children in private schools. This means that our nation's largest cities, once bastions of Black electoral power, are experiencing demographic shifts. It also means that African-Americans are being priced out of communities they once dominated, like Harlem, San Francisco's Bayview Hunter Point, Chicago's Cabrini Green and downtown D.C. Some cities have triggered the demographic shifts with tax breaks for new home owners, but no consideration for long-term moderate-income residents who have been renting. Still, gentrification brings both challenges and opportunities. And gentrifying neighborhoods will attract services and new opportunities. What to do? If you rent, consider getting in on the home-ownership act and watch your net worth grow. For free home-buying guides, contact the Fannie Mac Foundation, (800) 611-9566 (fanniemaefoundation.org); for home-buying help, check out HomeFree-USA, (866) OWN-2DAY (homefreeusa.org).

5 MULTICULTURALISM African-Americans are no longer the largest or fastest-growing population of color. The Latino population is slightly larger and growing faster, and the number of Asian-Americans is expanding rapidly. The presence and the size of these groups--34 million African-Americans, 39 million Latinos, 12 million Asian-Americans and 2 million Native Americans in 2003--mean that we have to be prepared to collaborate with other people of color when necessary, and hold our ground when we have to. How will that affect us economically? And what should we do? African-American entrepreneurs who have solid relationships with other groups will be able to develop profitable alliances in coming years. It is important for our work, and for our quality of life, that we be open to other people of color and ensure the same for our children. As a result, some of our children may be learning Spanish and Japanese along with English, or our new neighbors may be from Argentina or Eritrea.

6 HEALTH-INSURANCE CRISIS The number of Americans who lack health insurance is soaring, chiefly because of job loss or because higher premiums have priced people out of the market. In 2003, 45 million Americans lacked health insurance, 1.4 million more than in 2002. Forty percent of African-Americans who worked did not have health insurance, and the number is growing. Yet health-care costs can have a devastating effect on family budgets and is one reason some families declare bankruptcy. Diseases like diabetes, high blood pressure and HIV/AIDS hit the Black community hardest, and we pay the price psychologically and economically. What to do? If your employer does not provide health insurance, look for private coverage. Groups like BlueCross BlueShield and Kaiser offer individual coverage, though at higher rates than employer-provided health plans. Some trade associations also offer group coverage to members. Georgetown University's Health Policy Institute has developed state-by-state consumer guides to help you find and keep insurance. See healthinsuranceinfo.net for more information. Insured or not, take preventive care through diet and exercise. And work with civic and political groups to make affordable health care a right, not a privilege.

7 NEW WORLD ORDER The past three years have taught us that geopolitical issues abroad can hit home hard, especially in our pocketbooks. This year, in terms of headlines and influence, China rules. You'll hear more about China than you've heard in the past five years--for instance, about low-cost Chinese manufacturing and the Chinese economic model affecting global trade relations. "Minority businesses doing light manufacturing will be winners if they have relationships in China," says Irvin. Check it out: Where were the tote bags you got at your last conference manufactured? What about the low-cost T-shirts and the key chains you use as stocking stuffers? This is great for your pocketbook, but the proliferation of these goods affects manufacturing jobs here. What to do? This is an opportunity to learn about world trade relations and globalization issues from a Black perspective (log on to transafricaforum.org). If you want info about buying products that are made in this country, visit howtobuyamerican.com.