The recession and economic conditions are most probably scaring a lot of people. Suddenly, we aren’t so secure anymore. Our jobs and homes are on the line. Prices of everyday commodities are rising, as well as fuel prices.
Experts say that we are now in recession. What exactly is recession? Recession is an economic condition where there is negative growth in a nation’s Gross Domestic Product (GDP) which is evident in decreased sales, job layoffs, and personal income.
The first thing you need to do in this situation before even thinking about investing is to save up on cash. Set up an emergency fund account so that you have cash to back you up should anything unfortunate happen.
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