Recession Proof Living 2

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M Your first step to recession proofing your life is to have an emergency fund.  But don’t stop there.  That fund, which should be living expenses for 6 months, is not enough.  Important 2nd step Always live within your income.

V It’s tempting for younger couples to believe their future income will always go up.  We know better now.  Employment is a bumpy ride.

M That habit will serve you well.  I experienced and income drop becoming a widow.  Yes, I cut and carved my budget.  Today, those things I cut; I don’t miss.  I’m quite content without what I thought I needed before.

Your income dictates your spending, not your desires.