How To Prepare For A Recession in 2022 And Recession-Proof Your Life

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In this exciting episode of the Holistic Wealth podcast with Keisha Blair, we have an exciting solo episode on how to prepare for a recession in 2022 and recession-proof your life (with Keisha Blair). We’re in the midst of a high-inflation period, with rising gas prices, rising food prices and rising interest rates. We are also in the midst of a war with Russia invading Ukraine, and we are also in the midst of a Great Resignation Wave, and many experts are also now predicting that we will experience a recession in 2022, as early as this Summer. The pandemic has caused us all to look more deeply at our lives to examine the direction we want our post-pandemic lives to take. In this episode, I will walk you through the various steps to prepare for a recession and the steps you can take to recession-proof your life. In the NEW Holistic Wealth Expanded and Updated: 36 Life Lessons To Help You Recover From Disruption, Find Your Life Purpose and Achieve Financial Freedom, there are many strategies throughout to help you master the “Art of Recovery From Disruption”. Tune in to listen to this episode of the Holistic wealth podcast with Keisha Blair.

What is a Recession?

According to Investopedia, a recession is a macroeconomic term that refers to a significant decline in general economic activity in a designated region. It has been typically recognized as two consecutive quarters of economic decline, as reflected by GDP in conjunction with monthly indicators such as a rise in unemployment, stagnant wages and volatility in the stock market.

How To Plan For A Recession Right Now

These are a quick list of some strategies to help you plan for a recession

  1. Have a Holistic Wealth Portfolio With A Financial Plan
  2. Focus on Financial Resilience
  3. Know Your Personal Financial Identity (And How to Harness Its Strengths)
  4. Have an Emergency Savings Fund (with 9-12 months)
  5. Get Rid of Stuff You Don’t Need
  6. Get Additional Sources of Income
  7. Pay Down Debt

In this special solo episode of the podcast episode, I will walk you through these steps and explore the different considerations as well as strategies for planning for a recession, including planning your personal finances. I discussed various strategies from my new book: Holistic Wealth (Expanded and Updated): 36 Life Lessons To Help You Recover From Disruption, Find Your Life Purpose and Achieve Financial Freedom. Tune in to this exciting episode of the Holistic Wealth podcast with Keisha Blair.

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