Yes indeed, it is too late to prepare for a recession when a recession is at the door. You have to have been preparing when times were good - by saving up the e

Yes indeed, it is too late to prepare for a recession when a recession is at the door. You have to have been preparing when times were good - by saving up the excess. Sure you can (and probably should) cut expenses now, but that's not going to get you through if you don't have a solid emergency fund already saved up.