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Lessons From Past Recessions

Success

For anyone who lived through the fear and uncertainty of the 2008 financial crisis, hearing ‘recession’ from news anchors and pundits can bring up anxiety and fear. The most recent recession was in 2020 and only lasted a couple of months, whereas the 2008 recession lasted about 18 months. Beef up your emergency fund.

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How to Prepare for a Recession

Success

Talk of a recession might have some people remembering the fear and hardships of the Great Recession in 2008, or even the disruption of the COVID-19 recession in 2020 , which lasted only two months. One of the best things you can do to prepare for any financial downturn is to pay off your credit card or other high-interest debt.

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You Will Survive: 8 Strategies to Overcome New Entrepreneur Anxiety

Success

There is an escape from the Money Panic, and it doesn’t involve selling off retirement investments or increasing your credit card limit. Cut expenses to the bone. When the 2008 financial crisis hit, Tel Ganesan, founder of IT and software company Kyyba Inc., Secure a “consulting” gig.

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Customers Have to Pay at Claire's

Make or Break Moments

Claire’s prefers customers who pay with credit cards Or perhaps Claire’s only wants you to spend LESS than $40 It is better to receive two bad $40 checks than one $75 bad check Gosh. The company gets their money and I’m not inconvenienced. So what do you think?

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Top 5 Tips on Building a 6 Month Cash Reserve

The Small Business Blog

Add up all your monthly expenses so you can estimate how much money you will have left each month. The best tip from my point of view would be to avoid unnecessary expenses. While trying to keep up with Jones’ people eventually rack up huge credit card bills and are screwed. 5% is a good target too.

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