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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. Maliga shares several ways to prepare for a recession: Prepare a bare bones budget.

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The ABC’s of Debt Reduction

Prairie Eco-Thrifter

The economic effects of the recession of 2008 are still very much upon us. As a result of the recession, many have resolved to forever alter the way that they conduct their household business. Regardless as to the specifics, many Americans have elected to decrease spending, increase savings and eradicate debt.

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Stay the Course Financially

Prairie Eco-Thrifter

When the Great Recession began in 2008/2009, my boss at the time (a Vice President of the company) and her spouse consulted their financial adviser to see what they should do. They asked him what would likely cause us to come out of recession. We all are typically affected by the conditions around us, including economic conditions.

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Alternatives to College

Prairie Eco-Thrifter

We all have been taught that a college degree is the path to the good life, but is it still – when students are emerging with heavy debt and little chance of a lucrative job? I graduated from State U with a liberal arts degree in the early 1970s – when there was a world wide recession followed by stagflation. What are the alternatives?

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Frugal decisions.

Finally Frugal

economic news is this tax cut that will (hopefully) leave an additional $50 to $85 dollars in our paychecks next year. During the Great Recession, many of us have felt overworked and underfunded and as a result we've replaced vacations with 'staycations'. One of the more interesting topics in the U.S.

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Can You Cut Expenses by a Half Million Dollars?

Prairie Eco-Thrifter

With the advent of the Great Recession, today’s populations are re-learning frugality and expense reduction. The strategies did keep us out of debt however, and instilled in us habits of self-reliance, attitudes of ‘we can do that’ and a measure of life-long thriftiness that we might not otherwise have had.

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23 Passive Income Ideas To Help You Make Money In 2023

Savings Corner

And economic downturns can pose challenges, too. Some platforms invest in equity (stock), while others invest in debt. Generally, stock offers high returns in exchange for more risk, while debt offers lower returns in exchange for less risk. REIT dividends are not protected from tough economic times, either.

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