Sometimes it feels as if the bad news just keeps on coming. After months of lock down, many businesses are floundering and we face an upcoming world wide recession. So can you mitigate the damage and help yourself and your family survive a recession?
I asked some respected bloggers from the UK Money Bloggers community for their advice on the top actions they think people can take to help them survive a recession.
Some of the questions I asked were: What should you do if you are threatened with redundancy or have already lost your job? Should your focus be on saving or should you try to pay off debts? Could a recession end up being an opportunity? How can you lower expenses? Is it possible to make money in other ways?
Here is what they said.
Tips to survive a recession
If you have lost your job
Move back home
Develop side hustles
Look outside the box
Use your spare room/driveway
Reduce your outgoings
Develop your skills & use those you have