On Surviving A Personal Financial Crisis - And Other Personal Finance Subjects Like Loans, Credit, Debt, Debt Management, And Saving Money

No one can truly, or should I say consistently, predict when a recession will occur. If recessions were predictable their impact on the economy could be easily mitigated. There are indicators that allude to the possibility of a recession. But, each recession that has occurred throughout history has had slightly different root causes. The impact of a recession is undeniable. But, how hard a recession will impact the economy is not predictable. How far and wide a recession will stretch is not predictable.

So, how do you prepare for a recession when you cannot predict when a recession will occur? How do you prepare for a recession when you cannot predict its full impact on the economy? How do you prepare for a recession if you do not know if it will affect you. Read more »

Most people, myself included, never think about preparing for a recession. It simply never crosses our mind. Well the time has come. Financially surviving a recession takes preparation. It does not matter if the economy is already in a recession. If you have not already set out a game plan now is the time.

The biggest thing about recessions is that they are like snakes. You know they are dangerous. You know they can be deadly. But, until you get bit by a snake you don’t think about preparing for the consequences. But, once you’ve been bit, you will take the necessary precautions to avoid being bitten again, or at least mitigate the consequences. Read more »