article thumbnail

Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Nobody knows for sure whether we’ll see a recession or not,” said Amy Maliga, financial educator with Take Charge America, a nonprofit credit counseling and debt management agency. Prepare by paying off debt. Hatch a plan to tackle your debt, particularly high-interest balances, to help you free up more cash.

Recession 100
article thumbnail

What are YOUR Financial Goals? | 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. Is it to pay off your house? Pay cash for a trip to Hawaii or your kids’ education.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Over 40 and Worried about Money? Start here!

Family Balance Sheet

” Her comment was echoed by another (in real life) conversation I was having with a different friend who is sending a child off to college this fall. The cost of college education is crushing and many parents feel compelled to assist or pay for the entire tuition. This leaves not much left to save for retirement.

article thumbnail

How To Get A Business Loan In 6 Steps

Savings Corner

To find out whether your business can afford a loan, many lenders will use something called a debt service coverage ratio (DSCR). Bank relationship Relationships can make a big difference in managing your business finances and getting a loan. You want to use business profits to make repayments on the loan. Some lenders require both.

Bank 40
article thumbnail

Meet Krista & Jon Who Paid Off $36,000 | Debt Free Stories

Family Balance Sheet

We met in college and currently both feel drawn toward higher education. While we currently live in Oregon, in a few weeks we will be moving to western New York to both start new careers in higher education. The first step in this diligence was paying off debt. How did you celebrate when you became debt free?

Debt Free 243
article thumbnail

Create your debt freedom plan

Family Balance Sheet

Our personal finances are so interwoven with our small business finances that we view them as one. And as you’ll see below, we also added a few more steps that he probably wouldn’t suggest or approve of, but there’s a reason why this is called personal finance. Paying off debt is not fun.

Debt 130
article thumbnail

What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms.

Debt 52