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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.

Budget 189
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5 Best Tax Practices for the Worried Virtual Assistant

Virtual Moxie

What led up to the decision was that I needed better cash flow. I didn’t have the credit score I needed to take out even a small loan or get a new credit card, so I decided to not pay my taxes (quarterlies, specifically), and use that money as a float to carry my burgeoning business. But then, it all caught up with me.