6 Steps to Handling Money in a Recession
The recession is officially here. According to the National Bureau of Economic Research, after an unprecedented 128-month expansion, the economy peaked in February and has been going downhill ever since.
The big question now is, how long will it last? Unfortunately, no one can be sure, as there are many variables that can affect the economy, and many of these are unknown. Remember, before the advent of COVID-19, the economy was booming, and no one anticipated that a virus would overwhelm the world. There are also known possible instabilities -- political and trade tensions abroad, an unstable oil market, and the likelihood that unemployment will remain high.
And then there's your money. It doesn't matter if you're one of the 43 million workers who have applied for unemployment benefits or one of the lucky ones currently employed, you still want to preserve as much of it as you can. Here are six smart tips you can use now to make sure you survive the recession and come out the other side with your money intact.
Source Fool.com
