What Do We Need To Do To
Prepare For A Recession Economy?
Wow! everyone is screaming about impact of recession on them and their family, so what do we need to do to prepare for a recession if and when it comes? I do believe there are some few things we can do on our own to help us get through recession, after all we get through “Covid-19” virus, so therefore, we will get through recession if all of us can work together by helping one another with needs, such as finding job, making suggestion of idears and follow through.
Below is an online short description of a recession by the on-line academician and
“Subject Matter Experts in the field of Economics.”
A common definition is two consecutive quarters of decline in GDP, but this isn’t necessary for the economy to be in a recession. Recession just needs to be a contraction of the economy, featuring shrinking production and consumption, higher unemployment, and (sometimes) lower price levels.
The National Bureau of Economic Research (NBER), a leading economic think tank founded in 1920, is the generally recognized authority in the United States when it comes to declaring a recession. It calls a recession “a significant decline in economic activity spread across the economy, lasting more Than a few months, normally visible in real GDP (Gross Domestic Product), real income, employment, industrial production, and wholesale-retail sales.”¹
There is no short answer on how to handle recession economy, except that all of us must be prepared for the best way to deal with recession when it comes.
I am not going to re-invent the wheel why? It is because many experts has written and given seminars with ideas and enough suggestions on what each one of us can do to be well prepared for a recession.
I am planning on planting tomatoes, raise some chickens to collect few eggs every morning for breakfast or add some lettuce or cucumber to it. I think that would save me some grocery money.
(B) Here Is My Short Suggestions of simple ideas:
- Safe some of your pay check every week
- Be nice to your boss and co-workers, why? that way you just don’t get fired for being ignorant or being arrogant at work
- Plant tomatoes, cucumber, lettuce, spinach in your backyard or in create fill it with soil.
- Raise Chickens to collect eggs everyday for breakfast, plus you get chicken for your meat
If you don’t have a backyard you can always make small wooden create and fill it with soil, add tomatoes seeds to it, start to water it once or twice a week. In few weeks you would have enough tomatoes ready for breakfast for you and your family.
I promise I will make it easier for you
Here is Youtube Video that shows how to plant tomatoes.
- Pick a Good Spot. Place pots where they’ll receive at least six hours of sun. …
- Find the Best Tomatoes for You. …
- Choose the Right Pot. …
- Use Premium Quality Potting Soil. …
- Plant Tomatoes Properly. …
- Add Support. …
- Cover the Soil. …
- Water Regularly.
But I have also done some online research to make it easier for my followers and online readers to get some necessary answer to the question of a recession in a bad economy.
Many few questions are been asked online about a recession, such as:
- What to do in a recession
- How to get prepared for recession
- How to find jobs in a recession
- How to find right company to work for in a recession economy
(C) Below is a summary and suggestions that I gathered around the
globe to address some of your concerns about a recession.
- You Need to update your resume, if you are going to be looking for work
- Create a financial safety net, for an emergencies needs.
- Diversify your income streams:
- Cut unnecessary expenses:
- Negotiate with suppliers and landlords, if you are a business owner or rentals
- Seek out government assistance for support
- Communicate with your customers, if you a business owner
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