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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. An emergency fund is vital regardless of the larger economic climate.

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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

Family Balance Sheet

Was there a particular event? That inspired me to be intentional with my finances and to follow Dave’s six steps. Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. In those meetings, one of the things we discuss is finances.

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Saving Your Pennies For A Rainy Day

Prairie Eco-Thrifter

Your needs are crucial, and include things like food, water, clothes, transportation, etc. But wait a minute, you might be thinking “Jeans are clothing.” Medical emergencies, car emergencies, or family situations may arise where you need to dip into your emergency fund. Separate Your Wants From Your Needs.

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How Krystal and Josh paid off $80k in 4 years!

Family Balance Sheet

She is the co-founder of the website, Little Light on a Hill , where she writes about faith, family, and finances. Be sure to check out her website where she is offering a free finance workbook if you subscribe to her newsletter. Was there a particular event? Who handles the day-to-day finances in your home or do you work on it.

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How Angela & Jeff paid off $58,000 of Debt in 2 Years

Family Balance Sheet

Was there a particular event? This is where we cut out any extra spending, such as personal money and clothing money, as well as trying to cut our grocery budget for the month, and add the money we saved to the debt payment. Who handles the day-to-day finances in your home or do you work on it equally?

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Create a Monthly Spending Plan | 31 Days to Organize Your Finances

Family Balance Sheet

Welcome to 31 Days to Organize Your Finances. We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. Personal Escrow Fund. Gift Giving Fund. building your Emergency Fund. entertainment. car service.

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

Family Balance Sheet

A budget might not change your circumstances, especially if the problem is income, but a budget will help prioritize the funds that are available. 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. Total your expenses.

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