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While a bear market can signal a recession or economic downturn, its not a time to panic.
Experts recommended financial moves you should make with your paycheckif we truly enter a bear market.
Most importantly dont panic but prepare.
At the minimum, just hold steady.
Everything is at discount, youre getting more bang for your buck, Taylor said.
High-interest debt in a bear market can be a slippery slope [and] dangerous, she said.
Every dollar has to be accounted for.
She suggested having a system to reduce fear and panic, automate your bill payments and your savings.
This could be a spread sheet or an app such as EveryDollar or Goodbudget.
Zero-based budgeting is a strong go-to so that every dollar is assigned and nothing is left to chance.
Planning cuts down emotional spending and allows you to be more intentional with your money, she said.
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