How can I prepare for a recession?

How can I prepare for a recession?

Preparing for a recession involves several steps. First, it's important to assess your financial situation.

What specific financial steps should I take?

You should consider building an emergency fund, reducing debt, and reviewing your budget to cut unnecessary expenses.

Should I invest during a recession?

Investing during a recession can be risky, but it can also present opportunities. It's crucial to do thorough research and consider long-term goals.

What industries are usually safe during a recession?

Typically, industries like healthcare, utilities, and consumer staples tend to be more stable during economic downturns.