It seems that every time I turn on the news these days there are warnings of recession in our country. I did a quick search to see what one should do to prepare for a recession and these are the 4 major things:
1. Build an emergency savings account. This should contain funds equivalent to 3 to 6 months income or living expenses.
2. Pay off debt.
3. Have a disaster plan.
4. Have an alternate income source.
I don't think this list is anything new. We know that we should do these things anyway. We just need to be reminded to consistently work toward these goals.
The good news is that if you have been participating in and/or reading Frugal Friday tips you are already well on the way to being prepared for a recession and have some skills under your belt if things get bad at your house.
The other good news is that if we have a recession, it is predicted to be a light one and short lived. We'll see!
The one thing I didn't find when doing my "recession ready search", Do your best to be prepared, pray and Trust God to take care of the rest.
For more Frugal Friday Tips to to Biblical Womanhood.