The circumstances and effects of the 2007/2008 recession is still fresh in most of our minds. However, there are some people who do not recall the effects of the previous recession. Here are five things you can do to prepare for the 2020 recession.
- Stop spending money on alcohol and beverages at stores (i.e., coffee and tea).
- Prepare home cooked meals to save money on fast food.
- Refinance your mortgage to take advantage of reduced interest rates.
- Stop investing into stocks or mutual funds because the market crash will drop the prices of stocks and bonds.
- Borrow against your whole life insurance policy.
If you are impacted by the 2020 recession and have pending debt, please contact our office today for a free consultation. 949.591.8755