Don't buy anything you cannot buy outright if you own a credit card.
With your weekly income, designate certain percentages of your money to other causes, like paying rent or utilities.
Be efficient with your funds.
Avoid debt.
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The best thing to do with your money during a recession is to pay off your credit card debt.
Paying off a credit card that charges 18% interest is equivalent to getting an 18% return on investment. You may not get that from most other investments during a recession.
Assets are anything of value that you own that can be converted into cash. Examples include:
Your...
Assuming you have enough to cover the bills and aren't pulling an overdraft fee, start by automating your retirement savings. You know you need an emergency fund, so automate. Do the same with increasing your 401(k) contributions each year, or paying off your credit card debt.
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