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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. Prepare by paying off debt. Prepare for the unexpected.

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Find out how Richard paid off $40,000 of debt

Family Balance Sheet

Of course, the British climate isn’t always kind, but I’m pleased to say the weather recently has been glorious and I’ve been making full use of it! Many personal finance bloggers talk about having a “no spend week” – well basically I had a “no spend” five years! Yes, but not yet!

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How to Start a Budget (and be successful at it!)

Family Balance Sheet

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. A budget could help you avoid late and insufficient funds fees, find money for an upcoming trip or expense, and ease a disagreement over finances in a marriage. We have been using this system ever since.

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