Things in the US are increasingly unstable and the markets have begun reacting to that. It’s not looking very promising right now.
Personally, I’ve begun trying to save as much money as possible and have stayed on top of my deep pantry. I’ve also stored even more food that I had before.
How is everyone else preparing for a recession? Any tips?
That’s pretty much what I’m doing. Make sure I’m fully stocked on non-perishable essentials (that I’ll actually use); make sure my emergency fund is topped up; make sure my home is in decent shape.
There’s no point trying to play the markets (as in: guessing when to switch from more aggressive to more conservative funds). Though I am hoping to scrape together a bit of spare cash to try to buy a bit when I think some stocks or mutual funds are at a low. But I doubt I’ll get a chance to do that.
I’m not as worried about a huge recession as I am about the prospect of massive political/social turmoil. To me that’s the true chaos factor.