Recession? How to face It?

[cabron]

Since you are already anxious about this looming recession, you might as well be ready if it comes. There is so much bankcruptcy going on these days, people are losing jobs so it's best to be prepared. A plan B should be in place for you and for your family. There will be chaos actually, so it's best to be prepared when it comes to food security. Spend less as well.

Some are saying the recession is already here. If you haven't felt the prices going up yet, then maybe you are not buying your groceries yourself.

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[nurilham]

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.

Many media blow up the news about recession or inflation because it can attract readers. They get advantage if many people read/watch the news.

Indeed. The news can make someone to feel panic/fear if he has no good mentality. But if someone has strong mentality, he never feels panic but he must try to get the solution about how to deal with the recession. TBH, I never feel panic/fear about the news about recession/inflation. I believe we must have the ability to face it. As long as our government wants to try their best to support us and every people can cooperate together to face it, we can to face it well. We already have the experience about facing worse situation together, it was when the pandemic happened. So, we don't need to panic because we already have the experience about worse situation previously.

[odunybiz]

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…)

In some cases, recession also affect some investment especially physical investment. In most cases, when recession hit the population, it will definitely affect most business owners as passive income may not be made from same investment as before. 

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.

Getting a recession-proof investment isn't look easy. I think online investment is highly important here. Getting done with Bitcoin can be a good recession-proof investment for you.

Alternatively, you can cut down your expenses too. Just unsubscribe from the services you don’t use much.

This is a very important point that could help during recession. Money management is highly important during recession.

[bhadz]

There is this forecast in my country that this is going to last up to the end of this year. The price of most things is going to be up which will be led by the gas prices. And when it does increase, everything goes on high and that trend continues until something happens globally.
I am facing this by having myself set mentally and not breaking down because being anxious about everything now is going to lose my sanity.

Alternatively, you can cut down your expenses too. Just unsubscribe from the services you don’t use much.

This is a very important point that could help during recession. Money management is highly important during recession.

I've done this, I've got subscriptions that have been sucking a little part of my monthly income and then I found it not useful anymore since they're all for entertainment and not for my personal growth and fitness. Remember the comparison about a ship that has a little leak, despite being big in size but with very small leak, that's going to put it down just as us with small unusual expenses.

[BRINIRHA]

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.

Many media blow up the news about recession or inflation because it can attract readers. They get advantage if many people read/watch the news.

Indeed. The news can make someone to feel panic/fear if he has no good mentality. But if someone has strong mentality, he never feels panic but he must try to get the solution about how to deal with the recession. TBH, I never feel panic/fear about the news about recession/inflation. I believe we must have the ability to face it. As long as our government wants to try their best to support us and every people can cooperate together to face it, we can to face it well. We already have the experience about facing worse situation together, it was when the pandemic happened. So, we don't need to panic because we already have the experience about worse situation previously.

Thank you friend. U are right. It seems that I have forgotten the difficulties that are worse than the recession, namely the Covid-19 pandemic. At that time, the economy was even paralyzed due to quarantine in several areas. If we compare economic paralysis and economic recession then I think Recession becomes more trivial. It's just that we still have to have thorough preparation.

And we have indeed learned from the pandemic that came several years ago. So we should be able to overcome the recession more positively. The news media continues to exaggerate it. But sometimes this makes people more prepared when a recession actually occurs.

[kingvirtus09]

It is not simple to survive in a country when there is a recession. Even if we say you're wealthy, those folks will be concerned about the impact on their asset firms. To be honest, that is also a source of anxiety. Because a big sum of money, as well as profit, can be lost.

So, if I were the businessman, I would be concerned as well, but I wouldn't show it. Of certainly, I will find a solution to this type of situation. This is the time when everyone touched by the recession must truly endure.

[uswa56]

It is not simple to survive in a country when there is a recession. Even if we say you're wealthy, those folks will be concerned about the impact on their asset firms. To be honest, that is also a source of anxiety. Because a big sum of money, as well as profit, can be lost.

So, if I were the businessman, I would be concerned as well, but I wouldn't show it. Of certainly, I will find a solution to this type of situation. This is the time when everyone touched by the recession must truly endure.

Everyone is of course very worried if this condition occurs in the country they live in, but in my opinion life will continue as it should and we must be able to survive whatever the conditions are. I agree with you, we must be able to overcome it by looking for various solutions to overcome the recession the most important thing is that we must still be able to meet the needs of our families.

[beerlover]

It is not simple to survive in a country when there is a recession. Even if we say you're wealthy, those folks will be concerned about the impact on their asset firms. To be honest, that is also a source of anxiety. Because a big sum of money, as well as profit, can be lost.

So, if I were the businessman, I would be concerned as well, but I wouldn't show it. Of certainly, I will find a solution to this type of situation. This is the time when everyone touched by the recession must truly endure.

I would guess that when you are wealthy, inflation would definitely help you if you are smarter about it as well. Inflation hurts people who do not get their income growing while their spending grows, if you are making 500$ a month and spend 500$ a month but due to inflation you spend 800 a month and yet earn 700 a month, that's the issue. Majority of the world had that during the inflation that happened recently.

However, if we are talking about a business person, they could earn more because they are selling something and yet they are the ones who do not pay enough to their workers with whatever the inflation rate is. This is why businessman have a chance to earn more during this period and they should be able to do that if they are given the chance. I personally believe that's the most probable situation given what has happened.

[pawel7777]

Everyone is of course very worried if this condition occurs in the country they live in, but in my opinion life will continue as it should and we must be able to survive whatever the conditions are. I agree with you, we must be able to overcome it by looking for various solutions to overcome the recession the most important thing is that we must still be able to meet the needs of our families.

Exactly. Whatever happens, things will never get as bad as in the past, say, during the great depression in the 1930s, when even people in developed countries were becoming homeless en masse or even starved to death.

But still, it is better to be prepared than sorry. Moving some of your wealth into more recession-resistant assets is probably a good move. Whether Bitcoin is one of those assets - time will tell.

[BRINIRHA]

It is not simple to survive in a country when there is a recession. Even if we say you're wealthy, those folks will be concerned about the impact on their asset firms. To be honest, that is also a source of anxiety. Because a big sum of money, as well as profit, can be lost.

So, if I were the businessman, I would be concerned as well, but I wouldn't show it. Of certainly, I will find a solution to this type of situation. This is the time when everyone touched by the recession must truly endure.

The impact of the recession will truly be felt by all groups. Not only by the lower classes but also by the upper classes. Large companies definitely also have higher concerns. Especially if the company is an electronics manufacturer or something like that. Because their consumers will definitely decrease when the Recession occurs. Because people will start buying the most important things first, such as food needs.

Even during a recession, many large companies cannot survive and go bankrupt. Many large banks have even gone bankrupt at this time. And that is proof that the recession really has an impact on all groups. But it is still the lower classes who will feel that life is not easy the most. The impact on the lower classes will be more severe.

[|MINER|]

While you and I understand the positive aspects of the initiatives you mentioned, there are many who do not think about tomorrow.  Any disaster can happen anytime in life. We all should think about the future.  Just because I'm good today doesn't mean I won't be bad tomorrow. Along with being good today, I have to think about tomorrow.  You have to prepare yourself for this. You have to increase your work efficiency, you have to be frugal, you have to increase your interest in work.  And you said that in this case, I think that any one work should be done with attention. If the attention is in more than one place, no work will be good.

[Miles2006]

It's important to know what to do and prepare ahead of it, but knowing hard times does not last forever.
Just like what you mentioned, people in this situation should stop living luxury life and accept the situation at hand although most people can't just stop leaving their normal lives in situation like this. But in my own opinion people facing challenges like inflation should be more productive, learning skills to advance their career such as web development, software development.

[Fatunad]

Everyone is of course very worried if this condition occurs in the country they live in, but in my opinion life will continue as it should and we must be able to survive whatever the conditions are. I agree with you, we must be able to overcome it by looking for various solutions to overcome the recession the most important thing is that we must still be able to meet the needs of our families.

Exactly. Whatever happens, things will never get as bad as in the past, say, during the great depression in the 1930s, when even people in developed countries were becoming homeless en masse or even starved to death.

But still, it is better to be prepared than sorry. Moving some of your wealth into more recession-resistant assets is probably a good move. Whether Bitcoin is one of those assets - time will tell.

Not only really just that limited to Bitcoin but also in other business or investment as well like real estate or whatever business that you could really be able to done with. Making no move
or having no plans on trying out to back up your financial and just simply keeping your money at the banks would never do good for you specially on running years to come. We do know on how
inflation works and on the time that recession happens then for sure you are fucked up.This is why it would really be always that ideal and wise thing to be done that you do need to root yourself
and make out those sensible decisions which you do look that it would really be beneficial for you once things do happen.

It's important to know what to do and prepare ahead of it, but knowing hard times does not last forever.
Just like what you mentioned, people in this situation should stop living luxury life and accept the situation at hand although most people can't just stop leaving their normal lives in situation like this. But in my own opinion people facing challenges like inflation should be more productive, learning skills to advance their career such as web development, software development.

Might not last forever but it do becomes worst over the years passing by. 
This is why it would be wise that you should not make yourself get caught into the situation that you would really be struggling in terms of finances.
This is why back up plans would really be crucial most of the time.

[DVlog]

Since you are already anxious about this looming recession, you might as well be ready if it comes. There is so much bankcruptcy going on these days, people are losing jobs so it's best to be prepared. A plan B should be in place for you and for your family. There will be chaos actually, so it's best to be prepared when it comes to food security. Spend less as well.

Some are saying the recession is already here. If you haven't felt the prices going up yet, then maybe you are not buying your groceries yourself.

In my country price of goods rises by more than 100%. The situation is getting worse for the poor. There is enough food but people don't have the money to buy it. Food prices spike but they are getting the same wages. Life has become difficult for most of us. The unemployment problem makes the situation extremely challenging for a large chunk of the population. I don't think there is any plan B for these people. Most of them will perish.

[slapper]

Recession, recession... Everyone's talking about it, right? How many get its meaning? Basically, your knowledge is at a beginner level.

Recessions aren't only about unemployment or thrift. A complicated interaction of economic forces. Do you think reading a few articles makes you an expert? Think again. Preparing for a recession goes beyond conserving money and working. Understanding the economy and making decisions is key.

You suggest emergency money and spending cuts. Have you considered how these activities affect the economy? Will everyone saving and not spending worsen the recession? What about employment? You talk about learning new skills, but is switching careers that easy?

It's easy to list recession preparation procedures, but understanding the economics is harder. Before giving advice, try to grasp the topic. After all, a little knowledge is a dangerous thing, isn't it?

[JunkieMiner]

The advantage of getting to know the status of your country's economy is that you can prepare. But sadly, too many citizens don't prepare for such situation because all they think is that they're living a happy life and tomorrow's gonna be fine. And there's no need for them to worry about tomorrow's situation. Then pandemic came and everyone starts to look for some survival strategies especially those that don't have jobs and have been laid off. This is the importance of having an emergency fund of at least 6 months and more. Before it was like okay to have 3 months of EF but then when things have changed, it should be more and prolonged. What's being lowkey on a recession is the emotion effect and impact that it brings to everyone that's having tough times. Yeah, you can all of that money and savings and needs but when you're hit mentally even having those, you'll have hard time to get up.

There should be an amount a person has who is going to use in his bad times. I say about myself, I stored the amount for at least one year because I know about my country's situation that it will be in any time's danger, that's why I prepared for it from the very start. The same in the case with any other person who didn't have a jobs, and he didn't have anything other except his one eating. Then if he didn't prepare himself for it from the start, it would be too difficult for him to deal with the inflation and to deal with other difficulties in a country that can occur at any time.

[benalexis12]

Since you are already anxious about this looming recession, you might as well be ready if it comes. There is so much bankcruptcy going on these days, people are losing jobs so it's best to be prepared. A plan B should be in place for you and for your family. There will be chaos actually, so it's best to be prepared when it comes to food security. Spend less as well.

Some are saying the recession is already here. If you haven't felt the prices going up yet, then maybe you are not buying your groceries yourself.

In reality, a country experiencing a recession is extremely concerning. Of course, those who are harmed are the poor, who have few sources of income and rely solely on the salary received from the company if they are employees.

What if you are not an employed and rely solely on side hustles or extra income? You then have a family and children to send to school. We should be prepared for such a situation, whether we realize it or not. The essential point is that we won't be concerned now that we're aware of the problem, right?

[Inwestour]

Exactly. Whatever happens, things will never get as bad as in the past, say, during the great depression in the 1930s, when even people in developed countries were becoming homeless en masse or even starved to death.

But still, it is better to be prepared than sorry. Moving some of your wealth into more recession-resistant assets is probably a good move. Whether Bitcoin is one of those assets - time will tell.

It’s very difficult to say anything for sure, I also used to think that we live in a fairly civilized world that should strive to avoid war, but it turns out that nothing changes for humanity, each generation needs to go through this on its own, no one wants to learn stories.

Therefore, I now do not dare to say that humanity will never again face one of its worst times. Everything is fine when it doesn’t affect you personally and you can think about everything in safety, but if you are in the epicenter of events, then everything changes.

I want to believe that humanity is capable of drawing conclusions from studying history, but I cannot be completely sure of this.

[AicecreaME]

These advices are only applicable to those who have the privilege to do these things you've mentioned.

The people who doesn't have any stable job, or a job that pays well can't do these things you've said, because they are always providing food in the table using their whole salary per day, nothing left for savings, bills, sometimes even for their children education. The right thing to say is how the government and us should help each other to face the recession just in case, because not all of us can face the recession alone.

[asyakashi]

Panic and fear are definitely there. we experience this because we don't want to adapt to changes in the existing world. Recession will continue to happen whether we are ready or not. the most we can do is to do something we can. for example, we have to start from the bottom again if we fall, or we always anticipate investment if we don't fall too much. this is my strategy for dealing with a recession.