Here’s what to do to prepare for the recession that maybe isn’t happening, will never happen but is also currently sort of happening
Some bosses consider telework as a benefit. Many workers don’t see it that way but are willing to accept a lower salary, up to a point., thanks to President Biden. But many of those people will still have a balance, and they’ll need to start making payments again in January. You might be thinking, well, there’s no point in making any payments before then, because right now that debt is accruing no interest or penalties.
As the Fed continues to hike interest rates, debt is only going to get more expensive. Anything you can do to minimize debt now will mean you pay less for it in the long run. But remember: Don’t put debt before savings. “Regardless of how much debt you have, your No. 1 priority should be an emergency fund,” Dunlap said.Every expert I spoke to said they see early- and mid-career people making the same mistake: Not making the most of their compensation at work.
Most important: Don’t leave money on the table. Does your job offer a 401 match? Yes? Are you enrolled in it and contributing enough to get the maximum amount? No? Do that now if you can afford it.
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