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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

As Americans assess their financial situations following a challenging year, several economic signs — including continued high interest rates and lingering inflation — are still warning of a possible recession sometime in 2023. An emergency fund is vital regardless of the larger economic climate. Prepare by paying off debt.

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What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms.

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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. Markets and economic conditions change as well. The market might not return what you expect each year.

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Friday Links – Fridays Are Just Another Day

Prairie Eco-Thrifter

There were as always great reads out this week which I have highlighted below: Good Reads From The Blogosphere: If you’re tired of sky-high car insurance premiums, don’t miss Finance Fox’s post on alternative ways to save on car insurance. Paying off debt is hard to do. Are you a young professional?

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