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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

As Americans assess their financial situations following a challenging year, several economic signs — including continued high interest rates and lingering inflation — are still warning of a possible recession sometime in 2023. Maliga shares several ways to prepare for a recession: Prepare a bare bones budget. Prepare your resume.

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The ABC’s of Debt Reduction

Prairie Eco-Thrifter

The economic effects of the recession of 2008 are still very much upon us. As a result of the recession, many have resolved to forever alter the way that they conduct their household business. Regardless as to the specifics, many Americans have elected to decrease spending, increase savings and eradicate debt. Create a budget.

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LearnVest Daily – Free subscription

freestuff.tv

Don’t let the concerns of recent talks of the recession cripple you. Get some tips on how to continue to enjoy life and budget, managing debt and other issues. Sign up for LearnVest Daily. Delivered to you five days a week, the LearnVest Daily is packed with money-saving tips and financial how-tos to enrich your life.

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Stay the Course Financially

Prairie Eco-Thrifter

When the Great Recession began in 2008/2009, my boss at the time (a Vice President of the company) and her spouse consulted their financial adviser to see what they should do. They asked him what would likely cause us to come out of recession. The world wide recession made us all (either of necessity or by choice) a bit more frugal.

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Why Save Money in a Low Interest Rate Environment?

Prairie Eco-Thrifter

Although we think of the Great Recession starting in early 2009, it wasn’t until 2013 that the 5 year CD interest rate fell below 1% – and has stayed there ever since according to Bank Rates interest survey data. We could take on debt to grow using other people’s money. percent, after inflation.

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How Growing Your Finances Is Like Gardening

Prairie Eco-Thrifter

Some asset types do better during inflationary years, some do better in recessions. All require pruning for growth, just as your investments and debts do. You can trim off losing investments to free up the money to buy investments that will grow. Prune down debt to make way for savings to build.

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10 Money-Saving Tips For Your Wedding

Prairie Eco-Thrifter

The worst thing you could possibly do is start your married life with a mountain of debt from having the wedding of your dreams. With the economy the way it is and with most people affected by the recession, they will definitely understand that you want to keep costs at a minimum by having a small wedding party. Recruit Your Friends.

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