5 Ways to Prepare for the Next Recession
- 5 years ago
5 Ways to Prepare
for the Next Recession.
According to a survey by GOBankingRates,
68 percent of Americans do not have a
recession investment strategy in place.
Here are five ways you can think ahead
and prepare yourself for the next recession.
1. Start an Emergency Fund
Saving a little cash whenever possible will help you
accumulate a financial cushion in case you get laid off. .
2. Consider a Side Job
Diversifying your income will lessen the blow to your
bank account if you happen to lose one of your jobs.
3. Pay Off Your Debts
Pay off any credit card balances you have now
to avoid future interest rates, as you may not
have the money to do so in the future. .
4. Make Yourself an Indispensable Employee
A recession means cut backs at work, so it’s important to
work hard and position yourself as an essential employee. .
5. Be Ready to Job Hunt
Just in case you have to find a job in a pinch, make sure
to update your resume and build network connections
for the Next Recession.
According to a survey by GOBankingRates,
68 percent of Americans do not have a
recession investment strategy in place.
Here are five ways you can think ahead
and prepare yourself for the next recession.
1. Start an Emergency Fund
Saving a little cash whenever possible will help you
accumulate a financial cushion in case you get laid off. .
2. Consider a Side Job
Diversifying your income will lessen the blow to your
bank account if you happen to lose one of your jobs.
3. Pay Off Your Debts
Pay off any credit card balances you have now
to avoid future interest rates, as you may not
have the money to do so in the future. .
4. Make Yourself an Indispensable Employee
A recession means cut backs at work, so it’s important to
work hard and position yourself as an essential employee. .
5. Be Ready to Job Hunt
Just in case you have to find a job in a pinch, make sure
to update your resume and build network connections