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Pay off debts (and don't get more). Too many people say 'take out loans, and buy investments with the savings!' They don't understand that debt is risk, and rec
by theandrewbailey 5y ago
Pay off debts (and don't get more). Too many people say 'take out loans, and buy investments with the savings!' They don't understand that debt is risk, and recessions are a big reason why.
Stock up on food, medication, and other supplies.
- willcipriano 5y agoGiven the government's tendency for bailouts recently that might be a losing strategy. Things like eviction holidays are happening more and more. I wouldn't get into debt needlessly, but if you need something in the next few years anyway, now might be a good time.
- dominotw 5y ago> Stock up on food huh? recession is that short?
- frumper 5y agoRecessions are typically a few quarters to just over a year in the US. A well stocked pantry can go a long way to helping you supplement throughout the year.
- dmingod666 5y agoYou can stockup for 6 months fairly easily and by then you know the direction things are going. Mark dates on your supplies and use + reload them regularly. You will always have a 6 months buffer from when shit hits the fan.