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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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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. It’s not a necessity.

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

Family Balance Sheet

emergency fund, so we started throwing what little extra we had straight. transportation expenses. racks FIRST when shopping for clothes and shoes. selection of clothes at a fraction of the price before the next year. First, we will save our six-month emergency fund. Ramsey or Debt-Proof Living?

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

Family Balance Sheet

Transportation: loan payments, fuel, insurance, service/repairs, necessary parking/tolls. Some items are fixed and are recurring each month, but other things are variable (change month to month) such as groceries, heating/cooling, clothing, restaurants. . – Food: groceries, meals out, school lunches. Total your expenses.

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