Recession? How to face It?

[wxa7115]

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.

Another step that has to be taken is to avoid debt as much as possible, someone that has no significant debt can more easily deal with any economic crisis that may appear, now I understand this is a hurdle as it is difficult to live our lives without having some debt, but it has to be done.

As I know some people that had not recovered fully from the 2008 crisis, and then they had to deal with the pandemic and most likely another economic crisis will come soon, and they will be yet again unprepared to face such an event.

[BRINIRHA]

Recession? How to face It?

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.

Actually, this point is one of the things I am working on. I'm learning more things at the moment. Because I realize that one skill alone is not enough if we want to win in today's competitive job market.

It's just that the most difficult obstacle to face is feeling lazy and always putting off work. Even in the learning process, this is the case. So one of the things I'm currently facing is feeling lazy. Sometimes in the initial period I am enthusiastic about learning new things but then I always stop halfway due to being lazy and inconsistent. I know this is my weakness. And I'm trying to fix it now.

But then I found out an easier and more fun way to learn new things. Namely by studying business opportunities in the fields we like. For example, I am a person who likes taking videos in real life. And I developed it in a direction that could produce results by learning to become a video creator on social media. Even though I'm still learning. But I'm sure someday it will pay off.

If we are good at seeing opportunities, then as you said, we can even turn our hobby into a profitable opportunity. Being a vlogger does look good. But remember it's not easy. And as you said it won't work quickly. Meanwhile, the recession will not wait for you to earn income from vlogger activities.
So I think it would be better if we also train skills that previously didn't really interest us. Keep working well in your main job so that you can stay in that job. And if you have a hobby that has the potential to produce results in the future. So yeah, continue with that too. But you also have to have other skills that are intended so that we are always ready to take every opportunity that comes. Being multi-talented is not easy. But it can help expand the opportunities we can tap into to generate additional income.

But you also have to be good at managing time because if we are not good at managing time then our lives could become disorganized. And it has the potential to make us lack rest time. We still have to set limits at work and set rest times too. So that our health is maintained.

[dothebeats]

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.

Good point on this one. Honestly, this is what I'm trying to do these days. Although I already have a stable job that gives me a good source of income that steadily pays for my food, utilities, and needs, and even allows me to invest and save, I still feel like there are better jobs out there that can give me more. Seeing some of the people I am acquainted with live a better lifestyle from their work makes me want to adapt and learn their skills and try working on a different field that provides better salary and work environment.

[jasonjm]

In a recession, the country's economy shrinks, and the unemployment rate increases. We should be proactive in dealing with these kinds of emergencies. In a recession, it is very important that you have a somewhat steady cash flow, limit your expenses, earn more through different means, and diversify your investments (Bitcoin, stocks, real estate, bonds, etc.). It is also necessary to have liquid investment. Emergency funds, rental income, pension funds, etc., are important in fighting difficult financial situations. Adapt to the situation quickly and have a problem-solving approach. " Where there's a will, there's a way". 
Hopefully, all of our hardships will be over in the coming months.

In our country, we are not in the stage of recession, but our average unemployment here is actually very high. And many degree holders here accept jobs that are not suitable for their completed courses in the hardships of life instead of just hanging out at home.

How can it be that if our country has entered this recession, there will be more and more people who will find ways to survive in situations like this? I think that two sources of income will probably not be enough for sure at this time. Our source of income should be at least three or more.

It depends on the average monthly income of a person. I think, in your country per capita income is on the lower side, and you guys are facing a higher inflation rate. This is the only possible situation when you can not afford the commodities with two sources of income.
I am of the opinion that you should try to settle in some other country, where income is higher, and inflation is in the single digits. This way, you can generate more income and send remittances to your family for their financial support.

[Ayers]

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.

Another step that has to be taken is to avoid debt as much as possible, someone that has no significant debt can more easily deal with any economic crisis that may appear, now I understand this is a hurdle as it is difficult to live our lives without having some debt, but it has to be done.

As I know some people that had not recovered fully from the 2008 crisis, and then they had to deal with the pandemic and most likely another economic crisis will come soon, and they will be yet again unprepared to face such an event.

If you are someone who always has a savings fund and an emergency fund, I believe you will not need to borrow money to live. Therefore, as long as we find ways to increase our income and always have savings, we will never have debts that cannot be paid. Economic recession means we face economic difficulties, so if we always prepare carefully such as saving and increasing our income, it will not be too difficult to solve.

Even when there is no crisis or economic recession, we should always be prepared for those things because life always has surprises. Many people still have difficulties even in times of economic development because they never prepare anything for life.

[michellee]

Be more alert and prepare for the recession itself. Panic and fear will not solve any problems. We must learn what is needed to survive when a recession comes or we are already in a recession. You have written down the steps needed to prepare yourself before the long recession comes so that you can be better prepared to face it.

We hope to survive and emerge from the recession by making preparations starting now. We don't need to worry or panic because as long as we prepare ourselves well, we can survive during a recession. And don't forget to prepare some money to survive because, during a recession, prices of basic necessities can rise.

Hopefully, we can all survive the recession well and get out of the recession without any problems.

[Ben Barubal]

          When a country has a recession, does that mean that all countries are affected? isn't that right? Then, why should we wait for that to happen when we can prepare for it, whether the recession happens or not, at least we have prepared for the things that will suddenly come into our lives.
         Instead of when it's there and it's already happening, we'll prepare when it's difficult to do it, instead of when we're still relaxed and we didn't prepare. Let's not allow ourselves to add to the problem that can happen in situations like that.

[knowngunman]

Seeing some of the people I am acquainted with live a better lifestyle from their work makes me want to adapt and learn their skills and try working on a different field that provides better salary and work environment.

Thinking about adding extra skills is quite good but some time diversification is not always favorable as one may thought. If you have a stable source of income, you should focus on making it work better and grow bigger. Your friends are successful in their field or skills is not guarantee that you might prosper in that aspect too if you switch skills. One of my friend experienced such situation years back and regret attempting to change skills because he almost lost the two. What is good for the goose is no longer good for the gander. It actually works perfectly for some but you should apply caution in doing so in order not to lose your stable source and the new one fail to favor you. I wish you good luck in whatever decision you take.

We hope to survive and emerge from the recession by making preparations starting now. We don't need to worry or panic because as long as we prepare ourselves well, we can survive during a recession. And don't forget to prepare some money to survive because, during a recession, prices of basic necessities can rise.

We all hope but how many people are comfortably living up to standard in terms of feeding, housing and clothing as well? You can only prepare for the recession if you are surviving the current situation comfortably. You don't expect average man who feeds once in a day to prepare for recession while he's already in recess. Sadly, appropriate authorities are not putting any reasonable measure to contain this.

[KiaKia]

The recession won't stand a chance over you if you are making a good income every month or every week, those who are nailed badly to the wall in recession periods are those who are already struggling to feed themselves and have a good life, the solution for those who are struggling and poor is to be prepared, they should have some emergency funds saved somewhere and such people need to learn some skills to increase whatever they are making presently.

It's going to be an easy life if you are making enough money, you will be able to take care of your family and yourself, and there will be money to build a hopeful future, like investing in stocks or Bitcoin.

I don't have a problem with recession because I have good business and I also make money online via trading and I am still stacking up some BTC here and there, I am fully prepared for any worse situation.

[aylabadia05]

[snip]

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.

Economic management. Bitcoin investment is one way to deal with a recession. Saving in the form of gold can also or other investments. Everything that does not unravel the value is included in a good way to face a dying economic problem.
Bitcoin investment is increasing the interest of people rather than the choice of other types of investment to anticipate economic permission such as recession.
A 2020 data shows the situation related to the level of investment that I took from Saylor.



Covid is a lesson and when large companies have a greater level of bitcoin adoption than other types are also learning why they do it.

[Tony116]

[snip]

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.

Economic management. Bitcoin investment is one way to deal with a recession. Saving in the form of gold can also or other investments. Everything that does not unravel the value is included in a good way to face a dying economic problem.
Bitcoin investment is increasing the interest of people rather than the choice of other types of investment to anticipate economic permission such as recession.
A 2020 data shows the situation related to the level of investment that I took from Saylor.


Covid is a lesson and when large companies have a greater level of bitcoin adoption than other types are also learning why they do it.

If you have accumulated bitcoins many years ago, that investment is actually saving you from a crisis and possibly a recession because its value has increased many times over. If you invest now and deal with a future recession maybe in the next 10 years, that's also a good idea, because in the long run, bitcoin will increase significantly.
But if we're talking about what's happening and what's about to happen, I don't think bitcoin is going to help us. Many people even have difficulty finding income to cover their daily needs, how can they invest in bitcoin and what guarantees that bitcoin will pump next month? In the short term, bitcoin does not help us fight a recession, and it could even be negatively affected if a recession occurs.

The economic situation during the Covid pandemic is completely different from the time of economic recession. Don't be mistaken that bitcoin will also increase in price or react positively like during the Covid pandemic.

[BitcoinTurk]

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.

Certainly, a recession doesn't mean much to someone with passive income but depending on the type of passive income, the income stream may be affected by the recession. For example, someone who earns rental income by buying and renting a house will have passive income but if the tenant loses his/her salary or job there will be disruptions in payments. Since this person cannot be removed from the house immediately in accordance with many laws, this passive income will be negatively affected for a few months. On the other hand, for someone who earns passive income through dividends, their capital will decrease and their dividend income will decrease after the companies lose value and shrink. In other words, it would not be correct to say that someone who has a fully passive income will not be affected by the recession.

On the other hand, it is absolutely very important to have physical cash in such a period because cash is more in demand during the recession. In addition, since banks are negatively affected during the recession, serious problems such as not being able to use all the savings in the bank or not being able to physically convert them into cash are also observed.

Unfortunately, those who feel the most serious impact during the recession are unfortunately salaried employees because companies undergo various downsizings and many people lose their jobs in such periods. On the other hand, while there is no increase in the salaries of individuals who have not lost their jobs there is also a decline in purchasing power due to the increase in the prices of all products by recession.

[fuguebtc]

          When a country has a recession, does that mean that all countries are affected? isn't that right? Then, why should we wait for that to happen when we can prepare for it, whether the recession happens or not, at least we have prepared for the things that will suddenly come into our lives.
         Instead of when it's there and it's already happening, we'll prepare when it's difficult to do it, instead of when we're still relaxed and we didn't prepare. Let's not allow ourselves to add to the problem that can happen in situations like that.

That's what I mean, a lot of it is about the recession and how to get through it now that we're in a recession. Many people even complain and blame the government for causing them to have this difficult life. Why do many people still live very leisurely lives and not worry too much about what is happening while we constantly complain about everything? Has anyone ever asked that question? It's all our fault for not preparing well for our lives, we have been too subjective about life and forgotten that without a recession, unwanted things can still happen to us.

[bestcoins1]

          When a country has a recession, does that mean that all countries are affected? isn't that right? Then, why should we wait for that to happen when we can prepare for it, whether the recession happens or not, at least we have prepared for the things that will suddenly come into our lives.

People who are very ready to face any conditions in their lives, including recession conditions, will certainly not think about it as a complicated matter. Because basically they are very ready for anything that will come in their lives and will continue to try as wisely as possible to strengthen their economic and health conditions forever. But we also have to know that not everyone is able or ready to face this so some people may still see this as a very complicated matter to face.

         Instead of when it's there and it's already happening, we'll prepare when it's difficult to do it, instead of when we're still relaxed and we didn't prepare. Let's not allow ourselves to add to the problem that can happen in situations like that.

The difficulties that come must be faced wisely so that we can be in a better condition, because facing difficult conditions there is no word for relaxing in it. And it would be much better for anyone who wants to prepare themselves early to face the difficulties that sometimes come unexpectedly in life. So I think there is no reason to remain silent in any condition now, except to continue working to prepare each of us to become more mature in facing every difficult situation.

[YUriy1991]

Be more alert and prepare for the recession itself. Panic and fear will not solve any problems. We must learn what is needed to survive when a recession comes or we are already in a recession. You have written down the steps needed to prepare yourself before the long recession comes so that you can be better prepared to face it.

We hope to survive and emerge from the recession by making preparations starting now. We don't need to worry or panic because as long as we prepare ourselves well, we can survive during a recession. And don't forget to prepare some money to survive because, during a recession, prices of basic necessities can rise.

Hopefully, we can all survive the recession well and get out of the recession without any problems.

Well, I think that's up to each of us of course, but considering the conditions of world market uncertainty that are becoming increasingly evident before our eyes and the impacts are already starting to be seen, I think everything must be prepared from now on and whether it's time or not at all because this will also have an impact on whether each individual is ready or not in the end and one more thing I want to add is that Bitcoin is not a bad investment because Bitcoin has been proven many times so that it increases more sharply when political and economic issues develop.

[kojektea]

It's a little scary to look at the situation and think about this recession. but however we can't run away from all of this. I will not blame people who say the solution is investment and definite income. So what if they are already unemployed and it is even very difficult to earn a little money, how about they think about investing? Yes, I believe we have to think about this to help those who are less fortunate under us. it will be a kindness that will be remembered by them.

[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.

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.

You are right about all that, that no one cares enough about us apart from ourselves. But there is a small hope for me that the government can handle all existing economic problems so that people can be more calm in living their lives and can get prosperity, because after all I am a citizen who does have the right to demand and get all of this. and in facing this difficult situation, I have to face it as seriously as possible and full of responsibility because the capital I currently have is quite limited so I have to keep turning my head around and trying everything that is considered good to be able to find a way. get out of all this. Apart from that, in facing situations like this as much as possible we must be able to make good use of every opportunity that comes and never waste it.

[taufik123]

-snip-
So what if they are already unemployed and it is even very difficult to earn a little money, how about they think about investing? Yes, I believe we have to think about this to help those who are less fortunate under us. it will be a kindness that will be remembered by them.

Help in what way?
Capital or providing job-related information that they need?
There are many ways we can help those below us.

When you don't have a steady job and are mostly unemployed and don't have a steady income, it can be quite a difficult situation.
But as long as they are still enthusiastic and want to work, as long as it is a good job and earns, of course it will be a way out.

Or think about investing gradually with small capital, that's also one good suggestion.
But choose the type of investment that is safe and can provide greater benefits within a period of time that is not too long.
Like buying Bitcoin or top altcoins like ETH, it will have good potential in the future.

[bitzizzix]

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.

You are right about all that, that no one cares enough about us apart from ourselves. But there is a small hope for me that the government can handle all existing economic problems so that people can be more calm in living their lives and can get prosperity, because after all I am a citizen who does have the right to demand and get all of this. and in facing this difficult situation, I have to face it as seriously as possible and full of responsibility because the capital I currently have is quite limited so I have to keep turning my head around and trying everything that is considered good to be able to find a way. get out of all this. Apart from that, in facing situations like this as much as possible we must be able to make good use of every opportunity that comes and never waste it.

We should not rely too much and hope on the government to solve economic problems because I am sure they are also thinking about this, and only time will tell because economic problems occur in all countries.
And now we are required to be smart and independent in responding to the economy, not to lament the situation or only expect rewards from other people or the government, because there are limits. And we also have to have a job or those who already have a job have to have a side job or additional income so that our economic problems are okay, so find our talents or abilities to make money and also don't be too wasteful and don't buy things that are not needed.

[Oneandpure]

Have stable passive income and enough your saving fund seems not really impact with your economic condition, but we are not have dependent financial and working for getting income in daily day and need to be smart manage with our income when facing recession. Indeed have recession and inflation values of fiat or not we have prepare all bad possibility in the future by manage well and have balance between income or outcome. Pus few percent of income or salary for emergency fund where unpredictable thing will happen in the future, to make reduce of recession or inflation we have use income and take increasing trough investing in property or cryptocurrency.
All manage well with financial depend with how much capital earn from working, I don't have ideas with small capital how to make it balance for daily needed, investment until for emergency funds.