Emergency Savings or Pay Off Debt? || Recession Tips and Financial Priorities || Hack Your Finances

Recession thenBehold, the recession Question: Submersion - Should You Build an Emergency Fund or Pay Off Debt During This Economy? (Video) We will cover the hands-on approach to getting out of debt and building savings, essential financial planning tips and what it means for you/your clients to be recession resilient. From getting rid of toxic high-interest debt to building up that much-needed emergency fund, the video provides practical tips on handling economic downturns and putting your finances in a good position. Check it out—watch the episode now, and get a grip on your money!

Timestamps:

00:01 - Introduction and Importance of Understanding Recession
00:33 - Discussing the Impact of Inflation and Other Economic Factors
01:05 - Balancing Debt Reduction and Emergency Savings
02:03 - Review of a Market Watch Opinion Article
03:33 - Importance of Checking Personal Finances
08:01 - Scenarios for Savings vs. Debt Payment Strategies
09:28 - Balancing Debt Payment and Emergency Fund Allocation

➤ Determine Monthly Spending Fast: https://youtu.be/3BkqzuAjIEo
➤ Make Emergency Fund Last Longer: https://youtu.be/c1_lK-QilOg
➤ Cut Expenses to Lower Monthly Costs if Needed: https://youtu.be/XM9RXW9nIJY

References in this Show:
https://www.marketwatch.com/story/you-need-to-prepare-your-finances-for-a-recession-81eacd0b
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