7 Tips to Prepare for a Recession and Take Advantage of Opportunities

An economic downturn is inherently stressful. However, preparing for a recession can minimize the financial anxiety in your business and personal life. In this episode, Bob Stewart and Chad Hyams share seven ways to plan for a recession and how that preparation positions you for new advantages and opportunities.  In this episode, we cover the following: Does a recession create opportunities? [3:10] Learning how to be better prepared [5:14] Re-evaluate your budget monthly [7:26] Credit card and bank statement highlighter exercise [8:35] Budget and review your P&L monthly [10:35] Don't watch your investments every day [14:55] Paying off high-interest debt [17:21] Finding ways to make extra money [20:22] Continue your contributions [25:22] Increasing your emergency fund [26:59] Stay calm, relaxed, and breathe [29:35] Resources discussed in this episode: Enroll in Wealth Series 2.0: https://WinMakeGive.com/wealth/  Recession Planning: How to Protect Your Money and Business: https://apple.co/3QUC8Pp Make More Money: https://apple.co/45kHRCD Money - How Does it All Work?: https://apple.co/45l5ACs Breathe In…Breathe Out: https://apple.co/47LvTmX Win Make Give Facebook group: https://www.facebook.com/groups/WinMakeGive Connect with the hosts: Ben Kinney: https://www.BenKinney.com/ Bob Stewart: https://www.linkedin.com/in/activebob Chad Hyams: https://ChadHyams.com/ Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/ More ways to connect:  Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up Explore the Win Make Give Podcast Network: https://WinMakeGive.com/ Listen to Win Make Give Season 3 on YouTube: bit.ly/3pPEdAx ------ Part of the Win Make Give Podcast Network