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How to Prepare for a Recession

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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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Rent vs. Buy: What’s the Right Decision for You?

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For example, 84% of respondents in a 2020 survey from personal finance site NerdWallet said buying a home is a priority. They didn’t have the income or credit to buy and struggled with student loan and credit card debt, so it was harder to save for a down payment.”.

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