Those who aren’t prepared for a recession tend to get hit the hardest. Here is how I am preparing for a recession and how you can too.
We haven’t had a global recession since 2008 and Australia hasn’t gone through a recession in 27 years but recessions are a part of life and do happen on a regular basis, so it’s important to be prepared it when it does come so you life isn’t adversely affected.
0:00 – Introduction
1:00 – The inverted yield curve and the high chance of a recession
2:15 – #1: Pay Off Debt
3:42 – #2: Keep Your Expenses Low
5:10 – #3: Look For Ways To Earn More Money Now
6:33 – #4: Diversify Your Income Streams
7:41 – #5: Build Up A Buffer Fund
9:51 – #6: Manage My Liquidity
11:10 – #7: Invest In Assets That Generate Cash Flow
13:12 – #8: Have a Backup Plan in Place
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