6 Steps to Recession-Proof Your Finances

Stay invested for the long term

In recessionary conditions, chances are that the markets may drop drastically, reducing the value of your investments. But do not sell in a panic. In stock markets, if you don’t sell you don’t lose money.

Keep focused on the long term and allow a bad market cycle to pass. You will get ample selling opportunities when the markets bounce back. In fact, if you have saved for a recession you will have excellent buying opportunities when the markets are down.