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The most recent recession was in 2020 and only lasted a couple of months, whereas the 2008 recession lasted about 18 months. How much debt do I have (creditcards, student loans, car loans, mortgages, etc.)? Am I anticipating any major life events with significant expenses attached (like a new baby or retirement)?
According to 2020 research published in the British Medical Bulletin , “a reasonable estimate of all neurominorities within the population is around 15–20%.” She’s like, ‘my autism won’t allow me to do that,’” when the company suggested charging expenses to a creditcard to then be paid back for travel.
The onset of the 2020 pandemic triggered what seemed like a brief yet severe recession. Ideally, workers should aim to save 3-6 months of living expenses. This cushion can help cover essential costs in case of job loss or unexpected expenses. Have an emergency fund: Building an emergency savings fund is crucial.
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 creditcard or other high-interest debt.
I didn’t have the credit score I needed to take out even a small loan or get a new creditcard, so I decided to not pay my taxes (quarterlies, specifically), and use that money as a float to carry my burgeoning business. What led up to the decision was that I needed better cash flow. Find another way.
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