A self-made millionaire shares her top 18 'recession money rules': 'Don't panic' and 'prepare to borrow'

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Self-made millionaire and finance expert shares her top 18 'recession money rules': 'It's reasonable to be worried.' (via CNBCMakeIt)

To boost your chances of surviving an economic downturn, here are my top 18 recession money rules:In a stable economy, experts recommend saving for three to six months' worth of living expenses.

"I do tend to be more conservative than many because I have seen three to six months in emergency expenses, and I don't think that's enough,"See if you can negotiate your credit card interest rates by calling your card issuer. Think about how you can make a strong case — maybe you've been with them for a long time or have a good history of on-time payments.

So create a plan to boost your credit score. Making payments on time and keeping balances low are the most important factors when it comes to building credit.Now is not the time to panic and cancel your credit cards. The age of your accounts is a factor in your credit score. Even if you transfer balances, keep your credit cards open., credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

 

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MakeIt 'prepare to borrow' Shows me this person doesn't know a damn thing about finances. Telling people to get into debt traps is silly.

MakeIt Prepare to borrow? Hahahaha.

MakeIt why is there a male in the advertisement?

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