Recession Proof Your Budget

The headlines are alarming. February job losses are up, the dollar is weak, and oil prices are above $100 a barrel. Many economists are warning that the U.S. is headed for a recession – or may already be in one. So what should the average American do? The Debt Diva, Clarky Davis of CareOne Credit Counseling, says you can’t control the economy, but there are steps you can take to recession-proof your life.

“Now is the time to take charge of your personal finances,” Davis says. “If you’ve been letting your budget slide a little, now is your chance to get your spending in line, take care of any debt you may have and start a savings cushion to guard against the squeeze of rising expenses or an unexpected financial emergency.”

Clarky Davis has written a wonderful guide to recession-proofing your budget. You can view the entire post here, where she gives great tips on how to Build your Budget, Slash your Spending, Delete your Debt and Start your Savings Cushion.

A most helpful and insightful read!

What steps are you taking to get your budget organized and under control?

Posted March 20, 2008, filed in It's That Time, Must-read articles, Less is More