How to Survive an Economic Recession

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In order to survive an economic recession, the best thing to do is to have an emergency fund set up in case a job is lost. Increase knowledge of current events to help survive an economic recession with help from a registered financial consultant in this free video on money management and financial advice.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to survive an economic recession. America goes through cycles, and cycles of good times lead to cycles of not-so-good times. And, many times, that's referred to as a recession, and in a worst case scenario, a depression. And the way to survive it is to always make sure that you have an emergency fund set up in case you lose your job. Always make sure that your resume is polished up and that you have the ability to do work that you may not want to do in the short term but it will suffice to provide an economic band-aid, if you will, to your personal life and keep cash flow coming into your life. Surviving an economic recession is all about making sure that you're knowledgeable about the news and the current events that are out there. This will make you more employable to an employer going forward. And this is important key factors that everyone should be involved because surviving is very important to your financial well-being and knowledge is power. So make sure you have that, and then you'll have the tools to survive an economic recession.

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