How to prepare for a recession // The Motley Fool Australia
Recessions are an economic reality. They’re also challenging to predict with any precision. They typically start before anyone realises they’re happening and end before economists have enough data to know they’ve finished.
Recessions tend to be relatively short-lived. But the impacts can be severe and long-lasting, causing permanent financial damage to those who may not have the means or financial security to ride out the short-term challenges.
Taking steps to protect yourself and your family from the potential consequences of a recession is essential. Let’s look at what a recession is and what you can do today to ensure you’re as prepared as possible.
What is a recession?
A recession is a slowdown of economic activity, as determined…
