What are some reasonable, yet potentially helpful things to do to prepare for a possible recession?

15 comments

1. Buy a lot of nft. Hurry up

2. Increase your emergency fund

3. If you have stupid debt, like credit cards or those personal loans or *heaven forbid* payday loan things. Clear them. Get them right down.

   Then invest in yourself. Stay healthy, learn everything you can, gain some skills. I mean practical stuff, get a cheap fishing rod from a secondhand place and learn to use it. A hunting rifle if that is more suited to where you live, and again learn to use it properly and safely.

   If the inevitable recession turns to a full-blown depression, those who can feed themselves have a chance. There aren’t that many out there that could be truly self sufficient. Not doomsday prep, just basic survival, gives you an edge over the other 90% of people.

4. Stop spending money on stupid shit!

   If you make that a mantra of your life, you’ll be fine!

5. pretend as if Amazon and restaurants no longer exist. They don’t exist.

   you are on the BattleStar Galactica, you can’t leave. there’s no more toothpaste. you have to get along with what’s inside of your home because there’s nothing else.

   I started doing that years ago, I make a teacher salary, I only have one job, no side hustles, and I can usually save $10k a year with this type of habit.

   doing everything in your power to never use your car right now will also help you. And I mean everything in your power. Only go to the grocery store once a week, I can now stretch groceries out to 1.5 weeks, but it helps to know how to cook basics. Learn how to use flour, cook rice, fuck with vegetables, and canned food etc.

6. Build up cash positions so you can pay your mortgage and other loans.

   Some people will say that cash positions lose value because the high inflation which is correct. However if you invest all your money you could find out that when your bills are due liquidating assets can make you lose a lot more.

7. Clear debt invest your money in stocks and etfs will pay off in the long run

8. Buy a gun and hide it.

9. For all you anti-work people out there, get a damn job!
   However you feel about ‘fighting big corporation’ or ‘tax the rich’, you’re still going to need money. When/if a recession hits, it’s going to get hard finding a job, especially a job that requires college/university.
   There are horror stories out there about those who graduated around 2008-2010. They graduated then couldn’t find jobs. When the market started to fix itself, these people had been jobless for years and had to compete with newer graduates. Needless to say, they were not the first to be selected.
   It’s going to get rough for everyone. You need money and you need to make sure your resume stays relatively fresh. Whether you’ve recently graduated or not in school, get a job.

10. Replace expensive hobbies with free or profitable ones

11. Fellas I’ve lost count. Is this going to be my 4th or 5th “once in a lifetime” economic recession?

12. Do you have an Only Fans?

13. Learn to cook.

14. I’m not sure if you’re paying attention to what’s happening in Japan, but their currency is crashing due to insane monetary policy. The US dollar could go the same way. That said, it’s a good idea to convert excess cash into other assets. My personal preference is silver. But don’t be holding too many dollars.

15. Accept that this is always the case and you have no idea when, how, or in what form the next one will hit. And move on.

    Preparing for something like that, as if you could ever guess how it will play out, is a waste of time and frankly arrogant.