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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

JANUARY 18, 2023

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. Prepare your resume.

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Recession Finance Emergency Fund Debt 100
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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

SEPTEMBER 9, 2014

We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) Then my husband decided to pay off his car.

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Debt Debt Free Pay Off Debt Financial Goals 236
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