Recession? How to face It?

[Natsuu]

Recession don’t mean anything to you if you have enough passive income from your investments. Having some hard physical cash is important too. If your only cash flow is your pay-job, then you can worry a little bit because if you get fired, you will lose your cash flow but you’ll still have to pay the bills (rent, electricity, water, internet etc…) So you either have to have a side income which is mostly recession-proof or you need to have some cash so you can pay your bills in case of emergency. If you don’t have any if these back up plans then the recession will ruin your life. Alternatively, you can cut down your expenses too. Just unsubscribe from the services you don’t use much.

Yeah income stream is very important. I have some gov. pensions . Some mining income. And lastly a signature campaign here.  I normally don’t do a signature but times are a bit hard so I needed more income.

Well because during the time of difficulties, we just need enough to sustain our needs. Especially food, water, and energy. I remember during the pandemic, money was nothing. No one cared because what people needed during that time was their health and security. No one needs money, they need food. I'm telling you this because recession doesn't come for no reason, it happens because there's always an economic crisis behind it.

The best thing to do during a recession is to have enough to put in the table. A stream of income where you don't need to get out of your house. Enough to provide security to yourself and your family. Enough is enough. And after a recession, make sure you have enough money, because all the risk assets will be at their lowest and discounted best buys.

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[aylabadia05]

Michael Saylor has many ideas about people who want to find financial safety in the face of various challenges. One of them is by speeding up owning Bitcoin.
In my opinion, the way to deal with it is to have a lot of savings that are sufficient for the long time this condition lasts because when it comes, it is difficult to get all the income.
The explanation in this cointelegraph video is interesting about the recession and Bitcoin.

[posi]

On a personal level, I can only advise that people be more optimistic about things in this life, these difficulties are only temporary and we will get through this together.
The issue of inflation and recession may have been talked about a lot recently, but I think we need to have an attitude of being prepared and ready for every situation. Although this is undesirable, we still need to make a lot of efforts to get out of this stage.

There will be many difficulties that we will have to face and depending on each situation and each country, the level of impact will be different, so each person will have different plans to overcome the crisis. I agree with you, I believe that as long as we are optimistic and always remember that these difficulties are only temporary, I believe we will find the best way to overcome them.

People always come up with solutions, but they all boil down to finding ways to increase income, save...I think everyone is aware of that, but it depends on the area we live in to make the best choice. As long as we stay calm and optimistic, we will always find a way to overcome no matter how difficult it is.

[Don Pedro Dinero]

To face all of that, I think we need to make preparations in an effort to face a recession, namely with small steps like the following:

1. Start planning to prepare emergency funds for us to use when unexpected situations occur.
2. Start reducing expenses by adopting a frugal lifestyle.
3. Start looking for additional work that can make us have additional income.
4. Increase our insight into financial education. So that we can be smarter in managing finances.
5. Start preparing yourself to face a career change. By learning more skills in fields that we haven't even mastered before. So that we can be better prepared to work in any field that we can use to get more income. Because looking for additional work will not be easy if we don't have many skills that we can use in competition in the job market.
5. Maintain physical and mental health.
6. We have to be more patient and also have to push ourselves to become people who can adapt more quickly in difficult situations. Because people who cannot adapt are the ones who will lose in competition in a market that is more volatile when a recession occurs.

Good advice. The good thing about it is that most of it I already do, so I don't have to start doing it to prepare. If you start saving and diversifying sources of income when there is no recession, when it comes you will obviously be more prepared because you will have accumulated more savings and investments than if you start shortly before the recession begins. Also, times of crisis are good times to buy on the cheap, so you can even take advantage of them.

[naira]

Recently, the economic news media has always been busy with discussions regarding inflation and recession. Because perhaps this is indeed a global problem or a problem that is being faced in many countries.
Actually, news like that has two impacts on news readers. that is
1. Panic and fear
2. Be more alert and make preparations to face the recession itself.

These 2 conditions have become shadows that are quite attached to my mind, and I sometimes reflect on such situations. Panic and fear are clear because I am not from the upper middle class so panic and fear require us to be able to take advantage of the situation while it is still under control. As for preparing oneself for the worst possibility, it is also not fully supported, unstable finances to meet needs cannot guarantee survival longer in the midst of a prolonged recession.

Fear like that is normal, but it doesn't have to be mourned and makes us weak. However, right now we can still do various things and for whatever reason, don't make what we have achieved seem like it was in vain. The global recession will not happen all at once, it will be gradual, and in a gradual process, there will be many ways that both the government and the world can use to get out of the pressure.

[MFahad]

if you do all the possible activities for getting good revenue then recession will have no effect on your situations. People are aware of the situations of country so if they don't think about their future then surely it will be their mistake.

Investment is the only way to be able to continue your daily routine in a well manner way. Those people who are utilizing their money with specific planning are also living a better life while there occurs a recession.

Look into your mean and if you think that some material is not necessary then don't he rushes towards that because saving is a way to minimize your worries while there is an inflation and recession.

[barisbilgili]

Recently, the economic news media has always been busy with discussions regarding inflation and recession. Because perhaps this is indeed a global problem or a problem that is being faced in many countries.
Actually, news like that has two impacts on news readers. that is
1. Panic and fear
2. Be more alert and make preparations to face the recession itself.

These 2 conditions have become shadows that are quite attached to my mind, and I sometimes reflect on such situations. Panic and fear are clear because I am not from the upper middle class so panic and fear require us to be able to take advantage of the situation while it is still under control. As for preparing oneself for the worst possibility, it is also not fully supported, unstable finances to meet needs cannot guarantee survival longer in the midst of a prolonged recession.

Fear like that is normal, but it doesn't have to be mourned and makes us weak. However, right now we can still do various things and for whatever reason, don't make what we have achieved seem like it was in vain. The global recession will not happen all at once, it will be gradual, and in a gradual process, there will be many ways that both the government and the world can use to get out of the pressure.

Taking advantage of conditions that are still stable is a good way to prepare ourselves to face these two conditions, but it would be better for us to have some income so that we can survive if we have entered these two conditions. Everyone has a different way of dealing with a recession, there are those who think too much about this condition and there are those who live their lives by continuing to work to meet their needs and they will save money to survive this condition, and those who think too much about it will be lazy to do their work. so they don't get the income to be able to meet their needs. In my opinion, when facing conditions like this, we must continue to do what we can to earn income and spend the money we earn well and not use money for needs we don't need.

[JunaidAzizi]

Recession? How to face It?

Op your are absolutely write and share very good information for Recession. Everything you point out is very informative and it will help us. You wrote that a recession is not for a long time but when it comes to how to face it is a big challenge and you provide very good tips but besides your tips, I want to add something more about how to face a recession and that is the online business.  Yes, online businesses or jobs are the effective things that will help us more from everything during the recession. There are more online businesses but I would like to share some of them.

1-E-Commerce business
2-Freelancer bussiness.
3-Consulting business
4-Affiliate Marketing Bussiness.

Many of you think about how it will help us in recession then let me explain it in a few words. Online businesses give us a good amount of money which will be passive and will help us in a recession the best thing about online business is that it does not need that high amount of money but a small one and needs a laptop or mobile phone and internet. In online business, we have the right to whether to expand it with time or limited and these businesses are independent of location you can run your business from anywhere in the world.

Starting online businesses before the recession starts, will expand and give us a big support in times of recession.

[Cryptomultiplier]

Recently, the economic news media has always been busy with discussions regarding inflation and recession. Because perhaps this is indeed a global problem or a problem that is being faced in many countries.
Actually, news like that has two impacts on news readers. that is
1. Panic and fear
2. Be more alert and make preparations to face the recession itself.

These 2 conditions have become shadows that are quite attached to my mind, and I sometimes reflect on such situations. Panic and fear are clear because I am not from the upper middle class so panic and fear require us to be able to take advantage of the situation while it is still under control. As for preparing oneself for the worst possibility, it is also not fully supported, unstable finances to meet needs cannot guarantee survival longer in the midst of a prolonged recession.

Fear like that is normal, but it doesn't have to be mourned and makes us weak. However, right now we can still do various things and for whatever reason, don't make what we have achieved seem like it was in vain. The global recession will not happen all at once, it will be gradual, and in a gradual process, there will be many ways that both the government and the world can use to get out of the pressure.

Taking advantage of conditions that are still stable is a good way to prepare ourselves to face these two conditions, but it would be better for us to have some income so that we can survive if we have entered these two conditions. Everyone has a different way of dealing with a recession, there are those who think too much about this condition and there are those who live their lives by continuing to work to meet their needs and they will save money to survive this condition, and those who think too much about it will be lazy to do their work. so they don't get the income to be able to meet their needs. In my opinion, when facing conditions like this, we must continue to do what we can to earn income and spend the money we earn well and not use money for needs we don't need.

Recession or not, life is for the living. The underlined sense is to be preferential in expenses and opt for alternatives where and when necessary.

It is important to keep doing what we do to earn a living, but what's more rewarding is to invest in knowledge to gain experience in other money making ventures, hence, living more comfortable despite any economic situation.  
Trading crypto or doing some remote tech work is quite good and a venture into food business will surely make one too full to care about economy or recession.

[Unbunplease]

A recession now is more of a mirage than the truth.    There are almost no real preconditions for a real recession now. Fear of recession is more an excuse for manipulation. Therefore, decisions should be made with a cool head, carefully thinking through each step.

[usekevin]

Michael Saylor has many ideas about people who want to find financial safety in the face of various challenges. One of them is by speeding up owning Bitcoin.
In my opinion, the way to deal with it is to have a lot of savings that are sufficient for the long time this condition lasts because when it comes, it is difficult to get all the income.
The explanation in this cointelegraph video is interesting about the recession and Bitcoin.

If the person had an periodic income,he should ready to save the money for the future.Holding the money in the bitcoin will be the far better option for the saving.The bitcoin is the assets which can be hold for the longer period to get good profit by just holding.The recession in the economy will affect all the people expect the people who save their money for the future.We all know the things happened in the COVID,many people suffer to survive.Only the people who hold good money was escaped at that panic time.

[Quidat]

Michael Saylor has many ideas about people who want to find financial safety in the face of various challenges. One of them is by speeding up owning Bitcoin.
In my opinion, the way to deal with it is to have a lot of savings that are sufficient for the long time this condition lasts because when it comes, it is difficult to get all the income.
The explanation in this cointelegraph video is interesting about the recession and Bitcoin.

If the person had an periodic income,he should ready to save the money for the future.Holding the money in the bitcoin will be the far better option for the saving.The bitcoin is the assets which can be hold for the longer period to get good profit by just holding.The recession in the economy will affect all the people expect the people who save their money for the future.We all know the things happened in the COVID,many people suffer to survive.Only the people who hold good money was escaped at that panic time.

Not only limited to Bitcoin or cryptocurrency but also in other investment or having a business as well on which it could really be able to save up your ass when recession hits and this is something that most people do really fail on doing so just because they arent mindful about those probabilities or chances that they would suffer when the time comes. They would really be just simply freak out and having those regret times on the moment that it would happen or on the time that they do realize that they dont have savings or back up plans on making themselves that able to survive.
You wont really be making yourself to be able to survive if you arent really that setting up those plans or back up whatsoever and just minding about the present and dont care about the future.

As much as possible then you would really be needing to be wise in regards with investment on which it is really that something
that it is really he only way on saving up yourself in terms of recession or whatever economic decisions you would really be taking, as long it would really be talking about
your survival on which you would really be needing on doing so.

[topbitcoin]

A country's economy experiences a decline during a recession. My heart breaks when I see how Covid-19 has worsened the existing economic situation in recent years. But in the midst of this chaos, I am surprisingly grateful that I was able to persevere through the difficult times. My country is currently undergoing a period of economic rehabilitation, with the aim of emerging from this situation stronger and more advanced than before.
Currently, I am trying to stabilize my family's financial situation. To achieve this, I improve my knowledge and skills, which will help me in making profitable investments. Apart from that, I am focusing on increasing my creativity, with the aim of building my own business so that I am not too dependent on the job I am currently doing.

[AmoreJaz]

A country's economy experiences a decline during a recession. My heart breaks when I see how Covid-19 has worsened the existing economic situation in recent years. But in the midst of this chaos, I am surprisingly grateful that I was able to persevere through the difficult times. My country is currently undergoing a period of economic rehabilitation, with the aim of emerging from this situation stronger and more advanced than before.
Currently, I am trying to stabilize my family's financial situation. To achieve this, I improve my knowledge and skills, which will help me in making profitable investments. Apart from that, I am focusing on increasing my creativity, with the aim of building my own business so that I am not too dependent on the job I am currently doing.

do remember that it is yourself who will truly help you in your situation. the government may have plans for its people, but for your day to day survival, it is yourself that will find ways how to provide for your basic needs.
hence, one should always find contingencies on how to augment his needs. you can't rely from anyone on this. just few examples, sell gadgets or anything that you think you don't need anymore, tend your own small garden, be frugal with your expenses and so on. and as you mentioned as well, improve your knowledge and skills, you may find alternative jobs if you equip yourself with additional skills.

[panganib999]

As an average guy with a salary that you can just get by and all that, it's going to be exceptionally hard getting by on that particular salary. It's hard enough that you're a cog in the wheel that could easily be replaced by someone else should the company deem you ineffective or unnecessary, it's also even harder to wrap your head around the fact that you're basically barely scraping by, so you won't have the liberty of saving money, financial freedom, and all that awesome stuff you get to experience as someone who's on a better state of living. And this is the reality for millions of us as of now. They'll be the first to experience the brunt and the after-effects of a massive recession and yet the whole world couldn't go on without them. Isn't that just a new level of fucked up?

[serjent05]

Recession don’t mean anything to you if you have enough passive income from your investments. Having some hard physical cash is important too. If your only cash flow is your pay-job, then you can worry a little bit because if you get fired, you will lose your cash flow but you’ll still have to pay the bills (rent, electricity, water, internet etc…) So you either have to have a side income which is mostly recession-proof or you need to have some cash so you can pay your bills in case of an emergency. If you don’t have any of these back up plans then the recession will ruin your life. Alternatively, you can cut down your expenses too. Just unsubscribe from the services you don’t use much.

So it is best to prepare while the economy has yet to fall into recession.  Saving money in any form can also help.  Buying precious metal so that we have something to sell in times the difficulty of recession kicks in also helps.  Any kind of money-saving technique will most likely help since a recession is a time when people will start losing their jobs, companies will go bankrupt and the price of commodities skyrocket.

If one is too conscious about recession he can then move to a rural/province place, and plant vegetables, fruits, rice, or wheat in order to have self-sufficiency, though he has to forget the luxury the city offers.

[Bananington]

Start reducing expenses by adopting a frugal lifestyle.

Even the frugal lifestyle is now difficult because of the non economical nature of some things.

Start looking for additional work that can make us have additional income.

We have to be careful with this because if you look and get the wrong type of work, it will take up your time and you will not have any other time to take up any other productive skill. If you need to work, be sure that you have a personal skill already.

5. Maintain physical and mental health.

Many things enough to make you run mad, you gotta maintain your sanity at all cost.

[pawel7777]

If the person had an periodic income,he should ready to save the money for the future.Holding the money in the bitcoin will be the far better option for the saving.The bitcoin is the assets which can be hold for the longer period to get good profit by just holding.

I know we're on Bitcoin forum, but seriously, don't treat Bitcoin as some sort of "guaranteed profit" investment. Nothing is guaranteed here, so don't put all your savings in it.
The 4-years cycle can't be happening forever, and even if we see the new ath at $100k, for someone who bought in at the previous ath, that's only ~12% annual yield, given we've seen 2-digits inflation rates, that wouldn't be anywhere near as impressive as returns in the previous cycles.
And having to wait for up to 4 years for your investment to become profitable is not something most people would tolerate.

[icalical]

Recession? How to face It?

To face all of that, I think we need to make preparations in an effort to face a recession, namely with small steps like the following:

1. Start planning to prepare emergency funds for us to use when unexpected situations occur.
2. Start reducing expenses by adopting a frugal lifestyle.
3. Start looking for additional work that can make us have additional income.
4. Increase our insight into financial education. So that we can be smarter in managing finances.
5. Start preparing yourself to face a career change. By learning more skills in fields that we haven't even mastered before. So that we can be better prepared to work in any field that we can use to get more income. Because looking for additional work will not be easy if we don't have many skills that we can use in competition in the job market.
5. Maintain physical and mental health.
6. We have to be more patient and also have to push ourselves to become people who can adapt more quickly in difficult situations. Because people who cannot adapt are the ones who will lose in competition in a market that is more volatile when a recession occurs.

I think the first one, preparing emergency funds is the most important thing in facing the recession. But with the current condition of fiat inflation and the risk of crushing stock market, and the bearish on Bitcoin market continuing, it's really hard to find the best way to safe our funds. I mean if we safe our funds in fiat, we have the security and we can immediately use it to buy our needs, but if the inflation rate is keep raising, then it's bad. And we can safe our funds in stock or bitcoin or other assets, but we can guarantee that the value of those investment will stable, and we still need to sell those assets to get the money we can used for living.

[ModorcReact]

While amny may think recession can simply be overlooked, with passive income system and stock investments.

it will be good to also put into consideration that recessions sometimes results to inflation, company stock and proceed reduction,which may reduce once passive income value.