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Whether you're a seasoned professional in a lucrative field or just entering the job market for the first time in Princeton, news of a recession can be very worrying. In the first quarter of 2022, the U.S. economy shrank by 1.6%, and the Bureau of Economic Analysis predicts that the number could be similar in the second quarter. If true, that would mean the country is in a recession, which can come with job losses, rising interest rates, and other difficult financial circumstances.

The good news is recessions are an opportunity for many, and you can thrive with just a few tools at your disposal. In fact, you can flourish with budgeting, protecting your home with insurance, and making well-researched purchase decisions. By knowing that you can jump over the financial hurdles that come with a general economic downturn, you may be able to reduce the anxiety and depression that comes with money problems. 

Manage a Household BudgetBudgeting is common advice given to U.S. households, but many families either aren't able to follow their plan or don't create one in the first place. This isn't much of a surprise, as budgeting can feel like tedious work, but it is important to be financially savvy during a recession. According to the U.S. Bureau of Labor Statistics, the average household spends 16% of their income on housing, 14% on transportation, and 11% on utilities and household expenses. You may not have a lot of flexibility in your housing or transportation expenses, but categories such as food, entertainment, and home repairs have a lot of wiggle room.

Invest in a Home WarrantyOne of the reasons it's difficult to stick to a household budget is unexpected large expenses. Homeowners' insurance often merely covers the cost of theft or damage to your house, but you can plan for major repairs that come out of the blue with a home warranty. As a type of service contract, home warranties cover repairs for some of your home's major components, such as air conditioning and heating, plumbing, refrigeration, stovetops, dishwashers, and washers and dryers. Instead of paying for a major repair bill out of pocket when something breaks, a home warranty helps you spread the expense through your normal monthly budget, which makes planning much easier. Note that your coverage will be largely based on which company has the best warranty for you.

Spend WiselyAnother important tool during a recession is your ability to make your purchases and investments last a long time. Whether you're buying a new air conditioner or a warranty for your entire home, read product reviews and check the ratings on multiple websites to ensure quality. This goes for refinancing your home in Princeton as well. More than half of online shoppers say they leave reviews for the products they buy at least once a month. That's an enormous source of valuable information for the major purchases you need. A wise purchase can save you money in the long run and help you avoid the stress of replacing a faulty product. 

Don't Just Survive, ThriveEven if a recession lasts longer than two quarters, you can thrive by planning your finances, protecting your property with a home warranty, and doing your research before big purchasing decisions. Through DoughMain Financial Literacy Foundation’s financial literacy resources, you can succeed during an economic downturn.

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Losing a job can be a scary experience for anyone. Faced with the reality of dwindling income, most people don’t know where to turn. Finding ways to make extra money on the side or to replace the income that you have lost as a result of being laid off or due to being underemployed is essential.
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Side gigs are great because they can help you make extra money and give you a sense of purpose. If you’re looking for ways to make money on the side, check out these tips from DoughMain Financial Literacy Foundation.
 
Use Your Talents That You Didn’t Know Were MarketableMany people have talents that they never knew could be marketable. It’s worth exploring what your talents are, as they may lead to work opportunities. What if you’re an artist? Could you design graphics for a company? Could you make or teach music? There’s no reason why not!
 
How to Use Your Talents to Find WorkIf you have certain skills that you didn’t know were marketable before, now is the time to put them to good use. One of the easiest ways to make money on the side is to use talents that you might not know are marketable.  For example, if you’re skilled at making great photos on your phone, then it’s possible that there are companies out there looking for someone to take photos and videos who would be willing to pay you for your services.
Similarly, if you’re a skilled writer, there are plenty of opportunities out there for freelancers who can help businesses market themselves on social media. As a writer, you can develop content for businesses in the form of blog posts, write white papers on company developments, and more.
 
Find Work Helping Businesses Market ThemselvesThere are many businesses out there who want to reach a larger audience but don’t have the time or know how to do it. They may need help with their social media profiles, or they may want someone to write blog posts for them.
If this is something that interests you, put up a profile on a site like Upwork and wait for offers from businesses in need of your skills. This will allow you to find work that suits your schedule without compromising pay!
 
Do Odd Job GigsIf none of those ideas sound right for you, then consider doing odd job gigs. These are jobs where employers post what they need doing, and then people bid on completing the tasks. Some examples include data entry, transcription, editing photos, and even designing logos!
 
Develop New Skills and KnowledgeWhen looking for side work, you may find that there is work you are interested in but you lack the requisite skills or knowledge to qualify for it. This can be discouraging, but instead of letting it demoralize you, use it to propel you to learn more. Returning to or starting college degree work online can significantly boost your knowledge and qualifications for work, anda degree in criminal justice is a great way to give back to the community. Plus, flexible scheduling online means you’ll be able to work while going to school.
 
There are many strategies for finding work when you need to. All it takes is the ability to adapt, along with a little patience. Carefully examine your own skills and interests to match an employer’s needs, or apply yourself to learning new ones.
 
DoughMain Financial Literacy Foundation is a nonprofit dedicated to building a better tomorrow by educating people today, in order to forge a financially literate America. Call 609-751-3300.

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Becoming an entrepreneur is a big decision. Many people have ideas about the type of
business they’d like to start, but if you aren’t sure yet, don’t let that discourage you. There
are some ways to discern what type of business is most suitable for you. By evaluating your
skills honestly, pursuing a business you’re interested in, and being mindful of the
challenges involved, you can succeed.

Here are some tips from DoughMain Financial Literacy Foundation for getting started as an
entrepreneur.

Your Area of Expertise Is a Good Place to Start
The business you’re probably most suited to is the one you’re already knowledgeable
about. Look at your prior work experience as well as any academic achievements you may
have. Even if you aren’t interested in that industry directly, you may have acquired
significant knowledge about related industries. Pursuing entrepreneurship in an industry
you’re familiar with saves you a lot of time that you'd otherwise spend learning about it.

Nonetheless, it’s still preferable to pursue a business related to something you’re
passionate about since you’re more likely to enjoy the work and can weather obstacles
more confidently.

Evaluate All Your Resources
Even if one industry seems most favorable to you, there might be significant barriers to
entry that can prove difficult for you to surmount. Businesses with investment or licensing
costs that are much higher than you can afford or that require specialized education you
don’t have probably aren't good starting points. If you can’t pursue the business of your
choice at first, consider starting a business in an industry with a lower barrier of entry to
use as a stepping stone.

It’s common to have a tight budget when starting a business, which means having to get the
most out of every dollar you spend. Digital marketing via social media is a great way to get
the most for your money, especially with free tools available to support your efforts. A free
online banner creator, for example, can be used to give each of your various social media
profiles a consistent graphical look. You can customize a template with images and text,
plus resize it as necessary, for a great banner to feature on your accounts.

Ask Yourself if the Business Is in Demand
It may not be wise to start a business in an industry that’s highly saturated. If one type of
business is highly common in Texas, you may want to consider trying something else. As a
new business owner, you're less likely to have the experience or resources needed to break
into extremely competitive markets or the advertising dollars required to be noticed. It’s
typically easier to enter a niche market where the business in question is in demand but
not yet oversaturated.

Get Your Paperwork in Order
As an entrepreneur, make sure you’re always legally protected by reducing the liabilities
involved when dealing with customers, the state of New Jersey, or the federal government.
Starting a limited liability company (LLC) is often the simplest and most cost-effective
route for entrepreneurs and offers protection from certain personal liabilities while
yielding some tax benefits. Hiring a formation service or even filing the paperwork yourself
is typically much less expensive than using a lawyer to form your business.

If You Choose the Right Business, It Can Thrive
Being a successful entrepreneur is about hard work as much as strategy, and choosing the
right industry at the right time can be a big determinant of your success. Be honest with
yourself about the resources and time you have available, assess your own capabilities to
make the decision easier, and structure your business as an LLC so that you can take
advantage of legal advantages and tax benefits.

DoughMain Financial Literacy Foundation is a nonprofit dedicated to forging a financially fit
America by providing education to students. For more information, please visit our website or
contact us today!

You're ready to take a little break and get away for a weekend, but you don't want to spend too much on a vacation. After all, your overall and long-term strategy for saving money depends on budgeting and saving now. To this end, DoughMain Financial Literacy Foundation outlines a few ways you can enjoy a weekend trip without breaking the bank.

Choose the Right Destination
If you're on a budget, you must choose the right destination for your weekend trip. You might, for instance, only travel an hour or two away from your home, somewhere you can easily drive. You can still have fun and experience new things, but you'll save on airfare.

You might decide to spend a bit more and fly to your destination, but you can still make choices that fit into your budget. Research the cost of motel rooms and attractions in various cities, and balance those factors against what you'd like to see and do. You might have to make some sacrifices or postpone some activities, but you won't break the bank either.

Find Some Deals on Travel and Even Sports Tickets
Next, Nomadic Matt suggests finding some deals. You can often combine travel expenses, motel rooms, dining, and even admission fees to attractions into one package, thereby saving money on all of them. Spend time on a number of travel websites, experimenting with various packages to come up with the right one at the right price, then book it right away before anything changes. Alternately, you might consult with a travel agent, but be aware that most travel agents charge a fee, and that money must come out of another area in your budget.
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You can also find some great deals on seats at your favorite baseball stadium. For instance, if you’re a big New York Yankees fan, you can score tickets for the Yankees at a deeply discounted rate on sites that sell seats for low or no fees. Check online for tickets and available seats when you’re making travel plans, and pencil in a day for some fun at the ballpark this summer. Don’t forget to budget for a hot dog or two!


Pack Like an Expert
You can also save money on your weekend trip if you pack like an expert. Several days ahead of time, make a list of whatever you need to take on your trip. Include everything from aspirin and sunscreen to snacks. You don't want to have to purchase anything when you arrive at your destination. If you're flying and must check a bag, try to get everything into one suitcase that stays within the carrier's weight and size limits. Check out packing tips online for ideas.

Leave Your Business in Good Hands
If you own a business, you'll want to make sure you're leaving it in good hands while you enjoy your vacation. Even though it may be difficult, delegate some tasks to employees. You know your employees, and you know which ones you can trust to do their jobs well. Honor that, and allow them to take over while you're gone. Follow the rule of thumb that if your employee can do the job 80% as well as you can, go ahead and delegate.

Preserve Your Memories
Finally, preserve memories from your trip. Take plenty of pictures, and share some of them on social media. You can use an online picture resizer to make them easier to upload and view. Don't forget to add some captions, too. 2 Aussie Travellers points out that you can even keep a travel journal. If you're trying to save money, go lightly on the souvenirs and select one special item.

Enjoy Your Weekend
You don't have to spend a lot of money to enjoy a great weekend trip, so start planning – and keep saving. Choose your ideal destination, find some deals, and pack like an expert. You’ll be able to enjoy your short time away without worrying about how it’s going to affect your wallet!
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DoughMain Financial Literacy Foundation builds a better tomorrow by educating students today, so they can contribute to a more financially sustainable community. Reach out to discover more! 609.751.3300

When you enter recovery, you must reevaluate every aspect of your life. Many people in recovery must work to rebuild their relationships and lifestyle. Still, it's impossible to ignore the importance of your financial standing.
 
As you begin to heal and recalibrate your priorities, you need to make a game plan to support yourself financially while adding fulfillment to your days. Below, we share a few practical ways to make ends meet and position yourself for a bright future as you beat addiction. It will provide you with more financial security, boost your self-confidence, and lower your chance of relapse.
 
Consider Entrepreneurship    
 One of the first steps you will need to take is to figure out how to earn an income. Suppose you have a particular passion that could bring fulfillment to your life and prove profitable; you could turn it into a business. Many benefits come with starting a business out of something you love doing.
 
Your passion can help you to overcome the fear of failure and give you more motivation to persevere through challenges, but it's also attractive to investors and other professionals who can help along the way. Also, clients and customers can tell if you love what you do, and it will evoke a sense of trust that you will do whatever is necessary to get the job done right!
 
Of course, starting a business requires a lot of time, energy, and decision-making. There are endless options when it comes to the types of companies you can start in today's world, as well as side gigs worth pursuing that can boost your income as you rebuild your life. From freelance writing to food delivery, from selling handmade crafts to renting out your vehicle—explore the many options to find something that will help you get back on your feet.
 
There are a number of inexpensive marketing strategies that small businesses can use to reach new customers and grow their business. Social media is a great way to connect with potential customers and create interesting, shareable content. Another way to reach new customers is through word-of-mouth marketing. You can also use an online tool to make a logo and download it. This tool allows you to customize ready-made logo templates with your font, colors, and design elements.
 
Learn How to Interview Well
 If you decide to find a job where you work for an employer, you will need to ensure that you have some basic interview skills to make a solid first impression. For example, for each job you pursue, thoroughly research the company and job position and make a list of likely questions.
 
After preparing your answers, plan some follow-up questions to ask the interviewer to show your interest in the organization. It can also help to rehearse your interview with a friend or relative to get used to maintaining eye contact, answering with confidence, and selling your primary reasons for wanting the job.
 
Check Your Resources      
No entrepreneur can succeed long-term without utilizing the resources at their disposal at some point. Start researching investors and other funding organizations to help you launch your company strong. There are plenty of organizations and programs worth looking into at the federal, state, and local levels. You will want to apply for as many things as you can to stack your options.
 
Keep Support Around You
Along with entrepreneurial support, you will also need to surround yourself with people who can help you stay clean and meet all of your recovery milestones. Look for a local support group specific to your addiction to connect with other individuals who share your issues and challenges. You might be surprised by how much it helps to talk to and share wisdom with others.
 
Recovery is not easy, but it must be your top priority if you plan to rebuild your life after addiction. One of the most practical ways you can start strong is to pursue an income. Consider the tips above as you make a plan for your physical, mental, emotional, and financial recovery. Keep researching other ways to lay a solid foundation for a bright future.
 
DoughMain Financial Literacy Foundation is dedicated to educating students so they can become financially literate. Learn how you can make a difference!

In the early 70's my father lost his job. This created #financialinstability and my father took out his frustrations on his family. My mother was left to raise 5 kids alone. We received welfare; Mom worked caring for a wealthy woman to make extra money despite her heart condition. As kids, we worked on farms planting and picking and attended school and church. Lake Ontario and the orchards and farms were our playgrounds. We expected nothing and as #money was tight we were thankful for what we received. A pot of gravy was simmering on the stove every Sunday, life was hard, but good because we had each other.
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Mom passed away suddenly in 1977 and while trying to give her mouth to mouth I remember thinking; this can't be happening. By this time, my oldest brother was married and living in California, and my oldest sister was also married and living in Niagara Falls. So, the discussions began, what to do with the three youngest?

My middle sister who was disabled was sent to live in a group home near my brother. My closest sister (14) and I (12) were sent to live with an aunt in Rockland NY. Eventually, my sister would go to live with my father. I was thrown out of my aunt's house when I defied her by going to work. At 15, I believed I needed to work to pay for college. With everything I owned laying on the front lawn (this was her usual practice with her foster children), I swore that I would never be thrown out like garbage again. I would never return or speak with my aunt again.

I was fortunate to live with friends, sleeping on couches or in the basement, in a booth at a family restaurant I worked at, or in my car. Eventually, my sister and I convinced our father to sign a lease on a 1-bedroom where we lived and covered our expenses. We worked hard, often holding down several jobs. #Money was always an issue often wasted on wants to leave little room for needs. Some times were dire, but somehow, we pushed through and learned to make smarter choices.

The way in which I was raised, the time spent homeless, the fear, insecurity, and financial instability have affected my life. Though today I consider myself financially #responsible, with a good family and great children the impact of the financial instability early in life is still there. #Skills learned through trial and error, and through work at the foundation have helped me change my mindset. They are important skills for youth from all walks of life, and lifesaving to those who have not had the great opportunities that I have had to learn and recover from mistakes.
This is why it is so important for us to help young men and women and at-risk families develop the skills needed to succeed. Financial success builds security, promotes responsible #behaviors and a healthy #mindset, and helps build the foundations needed to become #successful in life!

Please share your story and why #PersonalFinance is important to you?

www.tiresplus.com/auto-maintenance-services/tune-up/Bringing your new baby home for the first time is exciting. It’s also scary. Suddenly there’s a little life in your hands, and your trusty car doesn’t seem as safe as it did before there was a fragile newborn in the back seat.
 
If you want to be completely sure of your baby’s safety on the ride home and beyond, don’t wait until you’re at the hospital to worry about your car. The DoughMain Financial Literacy Foundation hopes these tips will help you prepare your vehicle for its precious cargo without spending a lot.
Freshen Up Your RideDoes your car have good bones but need a little work? An unexpected breakdown is more than inconvenient when you have a baby in the car. Check around for a trustworthy shop for a tune-up. If you can’t afford to go without your car, look for an auto repair shop that offers no-cost loaner cars or rent a car for a couple of days.

According to Palment Motore, one way to helpavoid major repairs is to protect you car in a garage. If your house is currently garage free, dont worry it may be affordable to add one than you think. Once you factor in the savings on maintenance and insuracne an add it to the increased value of your new garage adds to your home cyou may even com out on top!  

Need to Upgrade?Take a good look at your car. Is it a four-door car with modern safety features, or are you still driving your old college beater?
 
You don’t have to go out and buy a minivan, but you do need a car that’s safe and practical. If your old car doesn’t have side curtain airbags or requires a contortionist to load the car seat, shop for a low-mileage used vehicle rather than splurging on a new one. Cars lose substantial market value within the first five years, which means if you know what to look for, you can buy a late-model used vehicle for around half the price.
Check Your Insurance PolicyA bare-bones car insurance policy saves money in your monthly budget, but it could cost a lot more in the long run. The minimum mandatory car insurance required by state law may not be enough to cover medical bills and property damage in an accident. Even full coverage may lack valuable benefits, like uninsured motorist coverage and roadside assistance. 
Increasing your car insurance coverage doesn’t necessarily mean hiking your rates. If you traded a sports car for a family-friendly vehicle, Wallet Hub points out your premiums may go down thanks to a safer car.
Prevent DistractionsIn-vehicle infotainment systems are becoming commonplace in new vehicles, but drivers can save money by using their smartphone as a driving assistant rather than paying for the carmaker’s factory navigation.
 
Compatible with most cars beginning in 2014, Android Auto and Apple CarPlay integrate with your car’s touchscreen to display driving directions, play music and podcasts, and activate Siri or Google Assistant. Instead of taking your eyes off the road, you can use voice activation or steering wheel controls to change music or get directions. You may even be able to use features like Android Auto or Apple Carplay to stay completely hands-free while driving.
 
Every parent knows how important car seats are, but keeping your baby safe on the road goes beyond buying the right safety restraint. If you want to feel confident loading your baby in the car for the first time, make sure you’re looking at the big picture of car safety — from staying focused behind the wheel to staying covered in the event of a wreck.
 
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