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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

As Americans assess their financial situations following a challenging year, several economic signs — including continued high interest rates and lingering inflation — are still warning of a possible recession sometime in 2023. Maliga shares several ways to prepare for a recession: Prepare a bare bones budget. Prepare your resume.

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The ABC’s of Debt Reduction

Prairie Eco-Thrifter

The economic effects of the recession of 2008 are still very much upon us. It will take years to see a dramatic reversal of the unemployment trend that saw the US unemployment rate nearly reach 10%. As a result of the recession, many have resolved to forever alter the way that they conduct their household business.

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If You???re Not Poor, Can You Teach Your Kids What It???s Like to Be Poor?

Prairie Eco-Thrifter

During the recession in the ’80s, he was unemployed for nearly 2.5 While I was growing up, my family didn’t have much money. My dad worked first as a meat cutter and then at a factory. My mom was an at home day care provider. We got our clothes as hand me down from older cousins or from thrift stores.

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The Danger In Assuming

Prairie Eco-Thrifter

Let’s just flash back to six years ago to the burst of the housing bubble, massive unemployment, and the tumble of the stock market to crush this assumption. Unfortunately the recession of 2008 was not an isolated incident. Assumption #3: Your assets will always appreciate and your income will always rise.

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Adult Children Living At Home – How To Approach It

Prairie Eco-Thrifter

While there are many reasons why adult children could be living with their parents, right now most of the blame falls on the economy and the recession. The recession has made it more difficult than usual for new graduates to find gainful employment, especially with experienced workers finding themselves unemployed for months or even years.

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Stay the Course Financially

Prairie Eco-Thrifter

When the Great Recession began in 2008/2009, my boss at the time (a Vice President of the company) and her spouse consulted their financial adviser to see what they should do. They asked him what would likely cause us to come out of recession. The world wide recession made us all (either of necessity or by choice) a bit more frugal.

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Receiving SNAP Benefits? Use Them To Plant a Garden

Prairie Eco-Thrifter

This was in the 1980s, deep in the recession. I still remember one Thanksgiving during that period of unemployment when our church gave one of the food baskets for the needy to us. When I was 9, my dad, who worked a factory job, was laid off. He couldn’t find a job for another two years. Money was very, very tight.

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