Secure Your Future: 7 Proven Methods To Prepare For An Economic Downturn
Are we in a recession? Will the mainstream media ever be honest? How can you prepare yourself if you lose your job? Here are seven methods to prepare for an economic downturn.
Signs of a recession are there, yet the mainstream media continues to gaslight the public that everything is fine. Here are seven ways you can prepare for a recession.
Signs Of Recession
Just because the financial markets are doing well does not mean the real economy is fine. Wall Street is different from Main Street. Not everyone invests in the stock market. Yet the financial markets are often used as a standard bearer for whether or not there is a recession.
There are many signs on Main Street that a recession is here. It just has not been televised yet by the corporate media that continues to gaslight people. Signs of a recession include:
Cost of food when going to the grocery store.
Used and new car prices are rising.
The ten-year and two-year U.S. Treasury yield curves inverted in 2022.
Employers are cutting jobs.
Growing uncertainty among the general population.
The Federal Reserve and Central Banks do not know what they are doing. If they do, it is the opposite of what they tell the people is the goal of the Federal Reserve. Inflation is not transitory. The Federal Reserve printed 40% of the current monetary supply between 2020 and 2022. The consequence was an increase in the M2 money supply. The result was the current inflation that people are currently experiencing due to the Federal Reserve’s quantitative easing (QE).
Despite the economic chaos the central planners created, some simple strategies exist to prepare for an economic downturn.
Live Below Your Means
Many people live beyond their means. Do the opposite. Living below your means is a foundational principle of personal finance.
It simply means not to spend more than you make each month. Having extra money left over at the end of the month allows you to save it, invest it, or pay off any debts.
This requires learning to say “no” to certain things until you can afford them. Even when you get a raise, you can suffer from lifestyle inflation.
Continuing to live below your means allows you to save for a rainy day. Plan for the future.
Related - 5 Proven Ways To Be More Financially Literate Than 80% Of Americans
Pay Off Any Debts
If you have any debts, it is critical to pay them off. Debt takes away from your future self. Rather than being able to invest in yourself and direct your financial future, debt can financially bury you.
Many Americans are in debt. Common types of debt that Americans have are:
Student loan debt.
Car loans.
Medical debt.
Credit card debt.
A mortgage.
Come up with a strategy to pay it off and get out of debt.
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