7 smart & simple ways to recession-proof your finances right now

Even if there isn’t a recession, “recession-proofing” your finances  is an excellent way to strengthen them and ease the impact of any future  hardship!

It centralizes your entire financial life, so you clearly see your strengths and weaknesses.

Create a net worth statement

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Create a budget or spending plan

It lists your sources of income, major expense categories, such as  housing, food, insurance, and transportation, and goals.

Shore up your emergency fund

While everyone should have a healthy emergency fund, if you want to  recession-proof your finances, it’s even more essential to have one.

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Having fewer liabilities can take the pressure off if your pay gets cut  or you lose your job or business income during an economic downturn.

Pay down high-interest debt


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