601 N. Canal St. Carlsbad, NM 88220  (575) 887-1785 or (575) 887-0098   Routing #: 312276111     u1stcommfcu@pvtn.net | u1stcfcu@pvtn.net | Lobby Hours: M – F: 9am – 5:00pm

Overloaded with Bills – Need Help?

January 5, 2023

January bills

As inflation soars and interest rates climb, many Americans are preparing for the possibility of a recession. Many are struggling under the pressure of the highest inflation the U.S. has seen in half a century. Beyond all of that, economists expect US consumers to really begin experiencing this by mid-2023.

If you have debt that you need to pay off and are struggling to make ends meet under the current economic conditions, you may wonder how to pay down your debt while staying financially afloat. Paying off debt before a recession, especially variable or high interest debt, is important. However, saving money during economic uncertainty might be more important, especially if you don’t have much of a safety net.

If you are unsure how to manage your debt during a recession, the information below will help you decide what financial decisions are right for you.

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