7/26/22, 11:15 AM
How to Prepare for a Recession | fidomoney US | Finance
a How to Prepare for a Recession by domoney US | Jul 25, 2022 | Business, domoney US, Finance, Fintech
As the nation’s economy continues to worsen, many people are fearing another recession. While a recession may or may not a ect you, it can’t help to prepare for the eventuality by fortifying your personal nancial situation. If you take steps to respond better in a recession, you’ll endure it better and recover faster. Update Your Resume In preparing for a recession, one of the easiest things to do is also the most important. A recession brings layo s and business closures with it. Anyone can lose their job in a recession, but you can be prepared by updating your resume. This is also a good time to go back to school to improve your education or seek training for an entirely new career path. Tighten Your Household’s Belt It’s never too soon to start saving more and spending less. Look for ways your household can spend less on everyday items. Try to stretch groceries by serving smaller portions and switching to generic products. Look for sale items and shop at discount
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