Taking Care of Your Money During a Recession

What 15 Personal Finance Bloggers would like you to know about money during this recession:

CUT DOWN The first thing to do is to cut down on unnecessary spending and luxury spending.

STOP PAYING DEBT If you are currently working towards paying down debt (a very admirable goal!), it may be a good idea to put a pause on that. Now is the time to hoard cash instead of paying down debt (beyond the required payments).

SAVE MORE When facing a recession, unemployment, or possible unemployment, it’s a good idea to save, save, and save more. Hoarding cash is definitely where it’s out right now, even if that means slowing down investing

ALREADY LEAN Of course, if you are already lean and frugal, there is not much to cut, and if you have already optimized your finances, then there doesn’t need to be much change to how you are handling your finances!

Stay positive and take care of yourself!

CLICK HERE TO READ ADVICE FROM 15 PERSONAL FINANCE EXPERTS!

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