By Liz Hund
From Bankrate
Strategies to build your savings during a recession may involve adjusting your savings goals and cutting expenses, while paying down loans and avoiding additional debt. Getting into the habit of saving money takes discipline and can be challenging even during non-recessionary times.
To help you navigate saving during a period of economic decline, we asked a number of experts for useful strategies, as well as some pitfalls you should try to avoid at all costs.
Do’s and don’ts of saving during a recession. (Bankrate/TNS)
Do: Revisit (or Adjust) Your Savings Goals
While saving money may seem like an impossible task during a recession—especially if you or someone in your family is dealing with unemployment—it’s a habit that you should try to maintain, even if the amount you’re putting away each month is small….