Bring your debt and spending under control
Focus on your recurring monthly expenses to identify areas where you can potentially cut down wasteful spending and curb the habit of excessive shopping.
If you can rein in your expenses now it will give you the spare cash to pay down debts and build productive savings. Lending standards will tighten during a recession, so in good times you can consider moves such as credit card debt consolidation and mortgage refinance to make your finances more manageable.
