5 Ways You Can Prepare for a Recession

Recessions are a natural, albeit uncomfortable, part of the economic cycle, and typically are much shorter than times of growth. Learning how to prepare for a recession can minimize its impact on your personal finances. These five tips may help you batten down the hatches and get ready for smoother sailing when the skies clear.

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⏳TIMESTAMPS⏳
00:00 - How to prepare for a recession
00:21 - 1. Review your monthly spending
00:40 - 2. Get rid of high-interest debt
01:17 - 3. Build your emergency fund
02:16 - 4. Add funds to your investment account
03:13 - 5. Don’t make big financial commitments
04:09 - Recap


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