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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Maliga shares several ways to prepare for a recession: Prepare a bare bones budget. Prepare ahead of time and create a bare bones budget that includes only your essentials — think food, shelter, clothes, transportation and insurance — so you have a plan in the event that you experience a loss of income or need to cut expenses suddenly.

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

I work in Finance/Accounting for a large corporation but I have also started a company called Every Single Dollar , which focuses on personal finance for single women. Simply doing a budget. Definitely a monthly budget – I always create one every month. I will NEVER finance a car again.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

We also went through multiple job losses, surgeries, huge car repairs, etc. Who handles the day-to-day finances in your home or do you work on it equally? How often do you and your spouse discuss your finances/budget/spending? Thanks for interviewing me! to a high of maybe $80,000/year.

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