Take a Step Back REI In Your Car 1174
Things are changing in the economy and I\u2019m getting nervous because I see a lot of people who are going to get into trouble. Over the last several years, people have been very prosperous, and when we thought things were going to fall apart in 2020, that didn\u2019t happen. So, we\u2019ve been given this false sense of security, but with inflation and interest rates rising, we\u2019re definitely in a recession. Eventually, the bubble is going to burst, and some people will still be trying to live the same lifestyle without making any adjustments, which could have serious consequences.
It's important to stay prepared financially so you can weather the storm. When you\u2019re prepared, if your revenue goes down, you can stay afloat, keep folks employed, and keep food on the table. Lower your expenses wherever you can and get back to the basics. Remember, no matter what the economy does, we still have to pay our taxes and bills. Taking a step back and seeing where you can make cuts now before things get bad will save you in the event of a major recession. Plan for the worst-case scenario and put things in place ahead of time.
What\u2019s Inside:
\u2014Why preparation is so important ahead of a recession.
\u2014The consequences of not being prepared to weather an economic storm.
\u2014How to cut back on expenses to protect your business.