The next recession isn’t a matter of if but when. While no one can predict the exact timing, there are practical steps you can take right now to make your finances more resilient before the economy takes a downturn. This episode shares four tips that anyone can use to improve financial stability & security to help navigate uncertaintimes.
Key takeaways
- Recessions are unpredictable but inevitable.
- An emergency fund with at least 3–6 months of essential spending helps you avoid taking on extra debt or selling investments at the worst time.
- Pay down high-interest debt (like credit cards and personal loans) helps reduce vulnerability during income disruptions.
- Understanding what spending is essential vs. optional can help you act quickly and confidently when you need to pull back on spending.
- Match your investments to your timeline & risk tolerance so you're less likely to panic and sell when markets drop.
Links
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Investopedia article on recessions
