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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

JANUARY 18, 2023

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

Family Balance Sheet

SEPTEMBER 9, 2014

We also went through multiple job losses, surgeries, huge car repairs, etc. I needed to count on myself and support my son, and that meant getting my financial life in order, starting with building an emergency fund for the first time. We asked for raises, did work on the side, got better jobs, I started a business, etc.

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