Preparing for a Recession: Our Family’s 5 Step Financial Plan

This pending recession has thrown our happy family schedule all out of whack.

  • School: Our kid’s school is closed for the next 3 weeks. It’s looking likely that might extend at least 8 weeks and maybe through the rest of the school year.
  • Work: Our President recommends against gatherings of 10 or more so Nicole will more than likely be joining me as we work from home with kids.
  • Money: Although it probably wasn’t smart, I tracked our net worth losses over the past month and we’re down by at least $100,000 (and that is before the crazy stock market activity this week).

I’m sure our situation pales in comparison to other families who may soon be out of work. That’s going to affect a lot of families, small businesses and our country’s economy.

As we figure out what’s next, I wanted to share 5 things our family is doing to deal with the Coronavirus (COVID-19) season. I hope it helps you as you’re planning for your family. 

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