article thumbnail

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.

Recession 100
article thumbnail

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

Family Balance Sheet

It took me five years to pay off my debt but two of those years I had a job loss, I was taking care of my grandparents and I had lost my motivation and drive to pay off the debt. Simply doing a budget. Definitely a monthly budget – I always create one every month. I had planned to pay it all off in 2.5

article thumbnail

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. How often do you and your spouse discuss your finances/budget/spending? Thanks for interviewing me! Thanks Jackie, for being so honest about your debt story. During those 10 or so years, our incomes were all over the place.

Debt 236