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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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The Age Old Question: Should You Pay Off Debt or Save?

Penny Pinchin' Mom

You are one emergency short of losing track of your finances. From a personal point of view, I much prefer living debt free. If there is such a clause, you should compare the amount payable to what you are about to save from interest to determine if paying off the debt is an overall gain or loss. What gives?

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

The same can be said about finances – it is often the little things you do, the small actions you take, that have the biggest impact on your financial security, both in the present and in the future. A budget helps you track your finances so you know exactly where you are and whether you’re on track.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

Welcome to Debt Free Stories. After paying off the debt, she was able to quit her job to pursue her passion. I quit my job to focus on my own stuff (blogging, painting, rental property, my iPhone app, writing Kindle books, etc.). Quitting my job is one of the things being debt free has enabled us to do.

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