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Are your finances recession-proof?

How Do You Recession-Proof Your Finances?

With gas prices still sky-high alongside soaring inflation and a stock market that's staggering into bear territory, a recession may be on the horizon. While the future of the economy is uncertain, there are steps you can take today to protect your finances if and when a recession does happen.

For starters, having an emergency fund, good credit, several sources of income and a diversified investment portfolio are all good places to start. Easier said than done, we know! Check out our article on seven ways to recession-proof your finances then let us know what you do – or need to do – to make sure your finances are recession proof.

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Posted by The Penny Hoarder ·

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Comments (9)

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My fianance isn't recession proof but my relationship with Jehovah is...He can be anybodies safe refuge bc he is a Rock...

Many people say they believe in God but do you have Faith he will help you when your up against a hard place and a rock?? God whos personal name is Jehovah ( Psalm 83:18) will help anybody if that person is trying to do what is right...Acts 10:35...it's not a matter if God will help you it's a matter are you willing to seek him out? The world is getting hard as it is n none of us want to suffer any hard ships but let us be realistic...Does anybody really believe that mankind can get themselves out of the bind it finds itself in today?



Now I'm not here to say whether or not you can Weather the storm on your own...but God is there for those who seek him out...n while we are in a recession times are hard, but God wants to help you as he says it in Isaiah 41:10,13... so yes and no to the question...but I'm not worried bout the,recession bc I have my God Jehovah as my refuge and Rock...

My job is secure and we just got a 5% raise which is better than nothing so I am pretty happy. I got to work from home for 1 1/2 year so I got a lot done in my house and yard. I have a great boss too! I will be eligible for retirement next year but my boss wants me to stay and sign up for the drop. Not sure I want to work that long though.

We have been blessed w/ paid for rental property, a strong diversified portfolio, and an annuity.  We do get social security payments, an annuity check,  and 5 rental payments each month, plus our stocks mostly in my portfolio pay dividends mostly quarterly but we get checks most every day.  Yesterday we got 6 checks.  The young bank teller loves seeing us come thru the drive through most every day.  It took discipline and acceptance that we would need income as we got older.

Taking a look at the @Rachel Christian's article (linked up above), I need to prioritize paying off a little credit card debt and continue to add to my emergency fund. My 401k and other stock market investments may be taking a hit, but I'm holding them long term, so no too worried there.

I have started to look for items to flip for some extra spending money. But that's not necessarily related to whether or not we're heading towards a recession.

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