How To Recession Proof Your Personal Finances Michaeleekim In your 20s and 30s: shore up your assets. the first step to securing your financial future is to create a plan for reaching your financial goals, from building an emergency fund to paying off. In your 20s and 30s. the first step to securing your financial future is to create a plan for reaching your financial goals, from building an emergency fund to paying off student debt to buying.
Watch Today Excerpt How To Recession Proof Your Finances At Any Age Step 3: pay down your debt — especially credit card debt. “your most important job apart from building your emergency fund is to get rid of any debt,” says a. lowry. e. lowry concurs, adding. 6. diversify your investments. if you don’t have all of your money in one place, your paper losses should be mitigated, making it less difficult emotionally to ride out the dips in the market. Consolidating debt to a fixed rate loan may save money on interest and can also make for predictable monthly payments, which can help with budgeting during a recession. 3. create an emergency fund. 1. manage your spending wisely, starting now. cash flow is money coming in and money going out. the "going out" part is probably the easiest, fastest thing to influence. try building a worst case.
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