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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

But the possibility of one provides a perfect opportunity to assess your own financial situation and make preparations that will help you weather any possible economic slowdown.” Get ahead of a possible job loss by punching up your resume today. Maliga shares several ways to prepare for a recession: Prepare a bare bones budget.

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How to Overcome an Addiction Without Breaking the Bank: Key Tips to Follow

Koupon Karen

Addictions can lead to job loss, strained relationships, legal issues, and health problems, all of which come with their expenses. Treatment programs and therapy sessions can also add up, making it seem like overcoming addiction is only possible for those with deep pockets.

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Buying a Home With the Help of Mortgage Insurance

Prairie Eco-Thrifter

The first thing to think about when buying a house (aside from the emotional considerations of making a home) is always the financial aspect. Genworth Financial for example, offers job loss protection so that you can continue to make mortgage payments if you lose your job. Additional Benefits to Mortgage Insurance.

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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

Rules of thumb are often used to make various financial decisions. The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. So, What Can You Do?

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Top Tips for Strengthening Your Money Mojo

Prairie Eco-Thrifter

Making an intention to be ‘better with money’ is a good one, but way too vague. It makes us think of sacrifice, giving up all the fun stuff and obsessing over every dollar we spend. And for this reason, we tend to avoid making them, or we give it a go and quickly abandon it. When making one, remember to be realistic.

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Managing Family Finances: Tips and Strategies for a Better Financial Future

Penny Pinchin' Mom

Emergencies constitute things like: Job loss Medical emergencies Accidents Unplanned large purchases (necessary large purchases) Natural disaster expenses You absolutely need to have this money set aside somewhere it can be easily accessed but also not within your day-to-day reach. Who has that kind of money?

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

Penny Pinchin' Mom

Advantages of Paying Off Debt From a purely financial point of view, it makes more sense to focus on debt payoff rather than directing available cash to a savings account. High interest charges make it harder to put money aside for saving. The right move depends on your specific circumstances. Should you pay off debt or save?