7 ways to recession-proof your financial plan

7 ways to help recession-proof your finances

  1. Have an Emergency Fund - 6 months to a year of expenses (if possible).

  2. Live Within Your Means - Save First, Spend Last.

  3. Have Additional Income - Start a Passive Income Business

  4. Pay down high interest debt (credit cards etc).

  5. Don't Panic - Be real about risk tolerance.

  6. Diversify Your Investments - Diversification can help reduce your portfolio's risk

  7. Keep Your Credit Score High - You'll be more likely to qualify for financing with more manageable interest rates.

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