Here's How to Prepare for a Recession if it Actually Happens

A recession could be on the way. Or it could not.


Economists have been predicting and prognosticating for months, some saying the economy will recede later this year, while others point to 2024. If it does happen, most agree it will be mild, not to the level of job losses from the 2007-09 Great Recession.

Regardless which forecast is right, financial experts say it's a good time to take a step back, put finances in order and think about job security just in case a recession does come to pass.

"There's a fair bit that we don't know. The crystal ball can be a little cloudy sometimes," said Ted Rossman, senior industry analyst for "A lot of these tips are good whether there's a recession in six months or whether there's not. At some point there will be one, sadly. We can't avoid it entirely."

Read more.

MPR News with Angela Davis: Ask us anything about the tax code

“The ides of April — or April 15 — is Tax Day. The day has been immortalized in everything from specialty cakes to pop songs. This year, the 15th is a Friday, so you get the weekend and don’t have to file until Monday the 18th. If those two extra days are when you plan to get your taxes done, we feel you.”

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Politico: Fearing filing season chaos, IRS hits pause on web tool for Child Tax Credit

“The IRS is encouraging low earners to fill out a traditional tax return, both so they don’t have to wait for their money and because they can also qualify for other tax benefits in addition to the child credit.”

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LA Times: Tax season is here, with some COVID-19-era changes

Minnesota Public Radio: News with Angela Davis

Star Tribune: Prepare + Prosper prepares low-income folks prepare for an enriched future

Star Tribune: Business People

[News Release] Prepare + Prosper welcomes new members to Board of Directors

Media Contact:
Stacy Opitz, Prepare + Prosper / 651-262-2162

SAINT PAUL, MN (October 1, 2019) – Neera Chatterjee and Brian Strittmater have joined the Board of Directors at Prepare + Prosper (P+P), a nonprofit organization that works with low- to moderate-income people to build financial well-being through free tax preparation and financial services, products, and coaching, and by changing systems to create economic opportunity.

Chatterjee is senior vice president and senior managing counsel within the Regulatory Section of the Wells Fargo Legal Department. In that role, her team supports the company’s regulatory change management efforts in identifying and analyzing changes in the law that are impactful to the company. She is also committed to diversity in the legal profession and serves on the Board of Twin Cities Diversity in Practice, whose mission is to attract, recruit, advance and retain attorneys of color. She has also partnered with Just the Beginning Foundation, which is focused on providing exposure to the legal profession to students from underrepresented communities.

Strittmater has more than 20 years of audit, risk, and compliance experience and is currently a director in the Internal Audit group at Target Corp. In his role, he oversees the information technology and data management risk areas and is currently leading efforts to create a more innovative internal audit function. He has a long-standing relationship with P+P where he’s a financial coach in the Money Mentors program, facilitating change in participants’ financial lives. He also serves on a Member Services committee of the Twin Cities chapter of the Institute of Internal Auditors, presenting educational content and coordinating member events.

As newly appointed Board members at P+P, Chatterjee and Strittmater will provide leadership, guidance, and oversight to help P+P fulfill its mission and strategic plan.

About Prepare + Prosper

Prepare + Prosper is a nonprofit focused on building brighter financial futures for low- to moderate-income individuals and families. It provides free tax preparation; financial services, products, and coaching; and works to advance policies and practices that directly benefit the people it serves. In 2018, P+P enlisted the help of 635 volunteers who donated 27,078 hours, prepared taxes for 12,492 people who received $24 million in refunds, helped 1,322 tax filers to save $1.9 million of their refunds, and offered financial coaching to 166 people working toward their financial goals. For more information, visit, Facebook, and Twitter.


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