64: How To Best Position Yourself &Your Finances In A Recession

Send us Fan MailOG Listeners will recall we had this recession conversation in June (Episode 54 of the podcast). However, since thenCentral banks have continued to struggle to control the flow of money and the Federal Reserve has raised interest rates 5 different times this year (so far)Inflation reports for September show inflation at 8.2%. Thats still high!Gas prices have fallen a bit but they're still high and OPEN is decreasing oil production starting in November 2022.I share all this to say that there is still volatility and the signs of a recession are pretty glaring. The goal is not to freak you out, but it is to put you and I on guard.  In this episode, I share 7 things to do to position yourself to weather a potential recession1. Do a financial audit 2. Revisit and ramp up your emergency fund3. Pay down high interest debt4.Bring value at work and Upskill5. Increase your income6. Diversify your investments7. Get support within your communityWe are always heading towards a recession, we just don't know when and for how long. Recessions will always have casualties but they also always have winners. Want to know more on what to do with your money right now depending in your financial situation? Listen to Episode 3 of the podcast1Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'