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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Prepare by paying off debt. Hatch a plan to tackle your debt, particularly high-interest balances, to help you free up more cash. Consider strategies such as the debt snowball or avalanche methods or explore credit counseling to get a personalized action plan to attack your debt. Thanks for reading!

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

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About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) But it wasn’t a decade of nothing but paying off debt. When we first started we couldn’t have even conceived of becoming completely debt free. What inspired you to get debt free?

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

Surely unemployment, reduced income or a business downturn is considered an emergency, but so is a leaking roof, a broken hot water heater, or a dead car battery. Which comes first: saving for an emergency OR paying off debt? Once that debt is paid off then start building up you emergency fund to your desired number.