Welcome back to another episode of the 360 Money Matter Podcast!
In the previous episode, we shared the differences between passive and active investments. In this episode, we discuss what a recession is, how to prepare for one, and tips to help you get through it with as little financial impact as possible. With a recession and slowing GDP, your cash flow and budget are especially important during periods of negative economic growth. If you have a tight cash flow position, a recession will exacerbate the problem. How will that affect you and your family?
Make sure you’re informed and prepared for a recession so you can identify issues before they arise, adjust your position and strategy to minimize the impact, and pivot quickly so you are ready!!!!
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
- What is recession
- Why a cash flow and banking strategy is imperative at this time
- Gross Domestic Product
- Having an emergency fund
- Taking advantage of market opportunities during a recession
