Preparing for the Next Downturn

by SixFigureStart | November 12, 2009

  • My Vault
If there’s one thing we learned from this recession, it’s that economies tend to be cyclical. Stock markets crash and rebound, unemployment rates go up and down, and real estate prices can decrease just as quickly as they increased during the boom years. Unfortunately, there’s very little we can do about it, and an economic downturn is likely to happen again.

With an ounce of prevention, though, there are some things we can all do to put ourselves in a better position the next time around. After all, sudden job losses might not have been so crushing had we all had enough money in savings to carry us through the downturn. And spiking credit card rates might not be quite as big of a deal right now if we hadn’t been carrying such a large debt load prior to the recession’s beginning last fall. If only.[Read more]

--Posted by Stephanie Miles, RecessionWire.com

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