You are using an older browser version. Please use a supported version for the best MSN experience.

How to avoid being financially devastated by a recession

Cheapism Logo By Mia Taylor of Cheapism | Slide 1 of 19: Earlier this year, the United States officially entered a recession bringing a sudden halt to what had been the longest period of growth in this country since 1854. Triggered by the COVID-19 pandemic, economic activity contracted sharply as the coronavirus changed our lives, leaving behind record unemployment and a wave of bankruptcy announcements. It’s always a good idea to have a game plan for surviving a recession whether that means developing a side hustle, going back to school, or simply avoiding debt. Here are some smart ways to keep yourself afloat when the economy is on shaky ground. (History's lessons still apply, too. Here are 12 Things We Can Learn From the Great Depression.)  Related: How to Rebuild Financial Security Amid COVID-19

Recession Proof

Earlier this year, the United States officially entered a recession bringing a sudden halt to what had been the longest period of growth in this country since 1854. Triggered by the COVID-19 pandemic, economic activity contracted sharply as the coronavirus changed our lives, leaving behind record unemployment and a wave of bankruptcy announcements. It’s always a good idea to have a game plan for surviving a recession whether that means developing a side hustle, going back to school, or simply avoiding debt. Here are some smart ways to keep yourself afloat when the economy is on shaky ground. (History's lessons still apply, too. Here are 12 Things We Can Learn From the Great Depression.)

Related: How to Rebuild Financial Security Amid COVID-19

© DepositPhotos.com

More from Cheapism

AdChoices
image beaconimage beaconimage beacon