Welcome to the Learn Now or Pay Later financial wellness series, brought to you by CambridgeCredit Counseling.
We’re hoping to provide you with a better understanding of the financial challengesthat confront you each day. Through education and advice, you can build a strong financial future Cambridge can help. Donnie Moorhouse with Thom Fox and topic today is recessions. 17 Long and Narrow Living Room Ideas Obviously a fact of modern-day living, economic downturn, anything that I can do, any financialmoves I can make during an economic downturn? Yeah, there’s actually some moves you can take before recession even hits but more importantlywhen you’re in a recession you want to really live within your means. You can do this beforehand, by all means when you’re in the middle of a recession is youwant to basically keep your spending where you’re spending needs to be. Also, what you want to do is you want to create a financial cushion before recession evenhits.
That’s if you’re single you want to put three months of your expenses to the side in an It’s now even easier to generate solar energy in private households. That’s because for t… emergency fund, if you’re married though and you have a family you want to keep closerto six months in the emergency fund. Now, what if I don’t have enough of a cushion? There are some changes that you can make, first of all you can go to your human resourcesdepartment and try to reduce your 401k contributions. We don’t really recommend touching your 401k but again if you have to get this cushionin place you’re going to make some moves. You also want to talk to your human resource department to look how your taxes are beingfiled, your deductions that you were taking off. You want to make sure you can change them around, the average American gets in tax rebateof two thousand dollars.
That’s money that can be working a harder for you as opposed to the government. To learn more about this topic, or to receive personalized advice from a certified creditcounselor contact Cambridge today.