How To Get Your Finances Ready For A Recession
Financial Moves to Make Before a Recession Pay off high-interest debt. If you have credit card debt, personal loans, or other high-interest debt, the first task is to pay that off as quickly as possible. “Those need to be addressed immediately and prioritized over savings,” says Isabel Barrow, director of financial planning at Edelman Financial Engines. “The rates on these are usually higher than what you can make on your cash and the interest compounds....