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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Depending on your situation, you may qualify for a debt management plan. Get ahead of a possible job loss by punching up your resume today. Consider strategies such as the debt snowball or avalanche methods or explore credit counseling to get a personalized action plan to attack your debt. Prepare your resume.

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Buying a Home With the Help of Mortgage Insurance

Prairie Eco-Thrifter

Genworth Financial for example, offers job loss protection so that you can continue to make mortgage payments if you lose your job. In this economy, unfortunately, it may be the only way to prevent foreclosure. With some institutions, you can qualify for additional benefits and perks.

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Should You Accept Family Money?

Prairie Eco-Thrifter

If you understand why your parents are offering support, you may make a better decision on whether or not to accept it. They may be offering it for their own benefit, more than yours. Parental pride in ‘my daughter the doctor’ may play a role in their desire to fund at least part of school expenses.

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

Penny Pinchin' Mom

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. However, with limited funds to work with, you may have to choose between the two every once in a while and work out a balance the rest of the time.

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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. You never know when an emergency will arise. In some cases, you might experience a financial emergency at the same time that you experience a natural disaster.

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Eight Things I Learned After Becoming a Millionaire

Prairie Eco-Thrifter

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. You may worry about what your heirs would do with your hard earned millions. I hate to be taken advantage of in a financial transaction, just as I did when poorer.

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How to Handle the Stock Market Roller Coaster Ride?

Prairie Eco-Thrifter

Even if you aren’t invested in the market, you wonder if this will ripple down to you in the form of more job losses, higher prices, inflation, benefit reductions and belt cinching. I may replenish our supply of fuel oil, matches, candles, lamp oil and wicks. What Should You Do In a Market Downturn?

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