 TITLE: Is My Money Safe During a Recession? CONTENT: Should You Pay Off Debt in a Recession?\n---------------------------------------\nPaying down debt during an economic downturn can put you in a good position to weather financial turbulence. That's particularly true if you're carrying expensive high-interest debt on credit cards and the like.\nBut even if you can only afford to pay the minimums, it's important to make all your debt payments on time. If you begin missing payments, your credit scores will suffer, putting you in a difficult position if you need credit down the road. Credit scores can also affect your insurance rates and ability to rent an apartment, so do whatever possible to continue making these payments. If you have enough cash on hand to build up your emergency savings _and_ pay off high-interest debt, you'll be in an even better position.\nHowever, you might run into trouble making debt payments during a recession. If that's the case, ask your lender about payment relief or look into a debt consolidation loan or 0% intro APR balance transfer offer on a credit card. You can also explore credit counseling to help get a handle on your debt. END