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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

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. Recessions often mean layoffs and higher unemployment. Prepare your resume.

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

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We also went through multiple job losses, surgeries, huge car repairs, etc. Was there a particular event? We asked for raises, did work on the side, got better jobs, I started a business, etc. Who handles the day-to-day finances in your home or do you work on it equally? We hit everywhere in between.

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