How to Become Recession-Proof Even if You Are Afraid of a Recession?

“It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.” ― Harry S. Truman.

I am not sure when Harry S. Truman uttered that quote, but it is impactful; every time there are massive layoffs, this quote resonates more and more. While economic downturns are part of a capitalistic society’s economic cycle and are totally out of our control, what is in our control is the small actions we can take to weather the financial storm when it eventually turns our way.

The fear of an economic recession can be overwhelming, but taking proactive steps to protect your finances is essential.

Becoming recession-proof can give you peace of mind and prepare you for any economic challenges. Whether you’re just starting your financial journey or looking to improve your current strategy, these tips can help you build a solid foundation for a secure financial future.

Here are some steps you can take to become more recession-proof:

1. Build an emergency fund.

A substantial savings cushion can help weather financial hardships during a recession. For example, during the height of covid, I was laid off, and there was no window to return to work as the world has literally…