easy steps you can take to prepare yourself for recession


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Stick to your investing plan at this time and don't get overwhelmed due to high market volatility. The key is to not forget that you're in for a long term, hence, short term market ups & downs shouldn't affect you much.

1 Investment

2 Expenses

This is the time to cut down expenses to the best extent possible and avoid spending on wishes that can be fulfilled later on.

3 Savings

It is also a good idea now to save more money than usual. Hence, if your emergency fund until now had 3-6 months worth of expenses, then you should aim for 6-9 months now.

If you're carrying even just one high-interest rate debt, it is time you start paying it down to reduce your liabilities & the stress that recessions & debts come with.  Moreover, it will be beneficial to start paying off debts at the earliest because central banks have been hiking interest rates globally over the past few months.

4 Dept

5 Job & Income

Layoffs happening everywhere must have stressed you already, hence, it is advisable that you keep your resume updated to help you get a good job, in case of an unexpected job loss.  In the first place, you should try stick to your job unless you have a toxic environment. Moreover, it is a good idea