Skip to main content

Batten Down The Hatches! We're Heading For A Recession

If you have been following the news or been keeping up with financial reports, you will know that financial experts believe we are close to another recession. You can learn more about this on What does this mean? If you remember what happened back in 2008, you’ll have a fairly good idea. However, in the expectation of a new recession, it is important to know how to manage your finances effectively and ensure that you do weather the storm that is coming.

Avoid Overspending

When financial experts talk about a potential recession, it’s worth reducing your spending immediately. The first sign of a recession is people overspending and failing to pay it back, killing their credit score. According to, there are lots of different ways to repair a bad credit score, but if thousands of people are sinking into bad credit, it is still a huge warning sign. By cutting your spending, you can keep things under control. That’s why you might want to think about sticking to a budget this festive season. Experts believe that we could be hit by the full force of a recession as early as next year.

Nail Things Down

You might have noticed we’ve been talking about the recession like it’s a storm about to hit your home. But that’s exactly what a recession can be. A bad recession can wipe out your finances in one swoop, obliterating your savings. That’s why you need to make sure that your money is invested in a way where it’s not vulnerable. Property is one of the most secure ways to invest your money. You can do this by purchasing a new property. During the recession, the new home won’t sell, but you might be able to rent it out, earning a second income. Once the market recovers in a few years, you will then be able to make a nice profit.

If you don’t have the capital to buy a new property, you can think about improving your home. Investing in remodels and redesigns is a great way to invest money in your home, gaining it back once you sell.

Going For Gold

Alternatively, you can choose to invest in gold and precious metals. You’ll often see stocks in gold rise during times of economic uncertainty. That’s because financial gurus know this is the safest way to make sure your finances retain their accumulated value.

A Base Budget

We briefly mentioned a budget. If you’re not already living on one, get it set up and ready to go. Make sure you know exactly how much you will have to spend each month, planning for the worst possible scenario. If you do save, invest it in the sources we talked about quickly. With a budget, you will be able to keep your finances under control and ensure issues with your finances or the economy do not catch you off guard.

I hope this advice helps you survive the next recession. Remember, it could be here sooner than you think and might hit just after Christmas.


Popular posts from this blog

Copycat Boston Pizza's Bandera Bread

Have you ever had a craving for something but then once you looked at it you realized, I can make that myself for next to nothing? That's how I felt last night I thought about ordering in some food but then realized I really don't want to spend any money. I really wanted pizza bread from Boston Pizza. So I recreated it and oh my goodness was it ever good.  Don’t knock the simplicity this dish is sweet and salty and savoury all in one. The best Bandera Bread you can make is at home in your own oven, it costs Pennie’s on the dollar making it a frugal craving fixer that anyone can create!   Pizza Bread Dough 1 cup warm water 1 tsp instant yeast 1 tsp sugar 2 cups flour 1 pinch of salt  Seasoning 1 tbsp melted butter 1 tsp garlic powder 1 tsp onion salt 1 tsp parsley 1 tsp rosemary 1 tsp basil 1 tsp oregano 1/2 tsp sugar 1. Combine the water, yeast, and 1 tsp of sugar and pinch of salt in the mixing bowl and let stand for 5 minutes. Add the flour and salt

Affordable Ways To Make Your Home Look Luxurious

How do they do it? Professional designers seem to pull it off so effortlessly, but how will you make your home look more luxurious? You could just employ a professional or you can personally undertake the task of transforming your home into a place of luxury on a budget. In order to save money on your purchases, be creative and vigilant in your pursuit for the perfect style. Follow our budget-friendly ways for making your home a vision of luxury. Think it through, choose a style Luxury look isn’t enough to go on, so before you start shopping and wasting your money on furniture and decorations you might not even use in the end, first do some research. Go online and do some window shopping and find which style is more to your liking . An elegant Victorian style or something more modern and chic? Don’t get me wrong, you may want to mix and match, but before you commit by buying anything, consider what look you are going for. White is the color of elegance Choosing white as yo

DIY Table Revamp

I wanted to share a little DIY with you guys that involves duct tape! A few months ago my daughter's little chair that goes with her table she sits at every day tore and she made it worse by pulling all of the stuffing out of the seat! What started out as a quick fix turned into a great idea. She loved her seat so much that she has now decided that her table has look cool too so being the smarty pants that she is, she tore her table!