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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. Get ahead of a possible job loss by punching up your resume today.

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Are You Prepared For An Emergency?

Prairie Eco-Thrifter

This emergency might be one related to a natural disaster, or it might be a financial emergency, such as a job loss. While you can never be completely prepared for the toll an emergency takes on you, it is possible to limit the harm done by an unexpected turn of events. Water (and method of purification).

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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. Before you start paying off multiple debts, come up with an emergency savings goal to cover unexpected events. I would recommend that you have at least six months to a year’s worth of your monthly expenses saved in the event of a job loss or an unexpected emergency.

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

I’m sure everyone can name many little things that have more meaning than a big event in their lives. 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.

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Eight Things I Learned After Becoming a Millionaire

Prairie Eco-Thrifter

Managing your finances gets a lot more complex and time consuming. Knowing I had the financial backing to live through negative life events (divorce, job loss, catastrophe, etc) removed a level of stress from my life. , but rather for the satisfaction of making a positive contribution with my time and effort.

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

Family Balance Sheet

We also went through multiple job losses, surgeries, huge car repairs, etc. Was there a particular event? Who handles the day-to-day finances in your home or do you work on it equally? How often do you and your spouse discuss your finances/budget/spending? We hit everywhere in between.

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

I work in Finance/Accounting for a large corporation but I have also started a company called Every Single Dollar , which focuses on personal finance for single women. Was there a particular event? I will NEVER finance a car again. I had planned to pay it all off in 2.5 What inspired you to get debt free?