Budget Evaluation is Key to Financial Health During a Recession

By Amy L. Grice, VMD, MBA

Recessions are scary because as unemployment rises, consumer confidence falls, and those who are not independently wealthy cut back on spending. Some horse owners will struggle to pay for veterinary care, especially in the event of an emergency. Practices in some hard-hit areas of the country could see a 10-20% reduction in revenue, or more. To weather this period of uncertainty, having a financial plan can help to reduce anxiety and increase security.