In today’s economic time it is scarier than ever when you look into the news headlines and see we may be heading into a Coronavirus Economic Recession. What does this mean for you and Your money. Are you preparing for financial hardships or freedom?

Today you are going to get a complete understanding of your economy and what to do in a recession. Once you leave this page you will understand your economy.

Also you will know exactly how to prosper during economic hardships. Remember Millionaires are made during economic growth and recessions. I want you to know how to make money on both sides. So lets explore more.

Be the Next Success Story and Learn How to Make Money in a Recession.

What to do in a Recession?

With the examples you will see, saving money is just as important as making money in recessions. Below are some Key points that will dramatically change your economic situation.

Increase Emergency Funds

Save your change, there are plenty of apps that can keep the change off all you purchases and add them into your savings account.

Set weekly or monthly goals, these goals do not have to be a lot they can be as simple as $25. Get in the habit of putting just a little away. That way you don’t even notice that you’re saving.

If you don’t have emergency funds setup already, look to the areas of supplementing you income or cutting back to only needed expenses.

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supplement Income

With the growing concern for social separation, now might be the time to think about creating an online business. Creating businesses like online subscription services, marketing services and freelance writing give you the opportunity.

Investing in real estate is also another great way to create income you can do this by buying a condo or some type of small property. You can even get together with others and invest in larger projects like commercial properties. If you are strapped for cash but still want to enter into this, you can invest in venture capital programs.

These business crowd source funding to purchase million dollar properties and pays its investor on a quarterly basis.

Also you can get into the shipping business. Times are changing and people are more and more likely to order their purchases and line and have them shipped to their door. It doesn’t matter what side of this business you want to be on.

You can provide the goods and use services like Amazon to ship your items. Or you can be a part of the delivery portion of this business. Many people are making income by delivering products, whether its items like food delivery or delivering products itself.

Cut Unnecessary Costs.

For this you are going to have to ask yourself what things I Must have and want I Don’t. Many times we can do a few quick simple things like:

Take a second look at your cell phone bill. Maybe it’s time to reevaluate how much you use internet vs Wi-Fi. Do you really need an international plan on your phone anymore? Things like this can reduce your spending.

Cut back on the T.V. package. Revisit your television service provider and ask yourself what channels I really use. Many times we have 100’s more channel than we even use. Focus on the essentials.

Do-it-yourself projects can save money and be very rewarding at the same time. Instead of buying that picture you really like to hang on the empty space in your hallway. Maybe you can paint one yourself and even make a date night out of it.

There are many things that we out-source because we just don’t want to spend the time to do them ourselves. But if you are attempting to save money now is the time to reach into your inner creativity and see what you can come up with yourself.

Pay off High Interest Items.

Many people do not know this, but you can just call your credit issuer and ask for a lower interest rate. While this is not going to be 100% guaranteed that you will get a lower interest rate, but you just might. (I have called and got my interest rate lowered multiple time over the years.)

Another way wich sometime is the best way. Is to just take some money that you have saved and pay it all off. Sure this may seem like it will hurt you in the beginning; but that is one monthly payment you no longer have to make.

When looking at it this way by saving 50 to 200 a month you can put that right back where you got it from. Or you can use the “snowball” technique and pay off other debts.

You could also transfer this balance to a lower interest card. Many creditors will be happy to take your debt from another source. It benefits them as they will gain more in interest over time. This will also benefit you as you will be paying less in interest and saving more in the long run.

Get your Credit Score High

A high credit scores does many things for you besides helping you get that car you’ve always wanted. In a recession it helps tremendously because this allows to be able to open up lines of credit when companies have tighten up.

This allows you to be able not only get great rates but take advantage of items that are under-priced. Having a good credit score will give you some breathing room when cash assets cannot cover all of your expenses. Also allows you to prepare yourself to move into possible financial freedom when the drought is finally over.

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What is a Recession?

definition: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Why Recessions Happen?

In other words, a recession happens when people start spending less money and companies make less products. When companies make less products, people get laid off. Then people get laid off and debts do not get paid. When debts do not get paid, banks ask for more money from the central bank/government.

If not enough money can be provided to the banks than the economy becomes at a standstill. When this happens and there are no more economic transactions recessions becomes depressions.

Once the surge of cash flow finally helps restart the economy we move back into economic growth, until the cycle repeats itself

To get a great illustration on how Your Economy Works and it’s complete cycle. I highly recommended to watch this Gem of a tutorial on how and why recessions and surpluses work.

Recession vs Depression

Simply put, the difference between the two is just the amount of time it takes for the economy to bounce back. If it is short term and doesn’t have a sever effect on the people then it is considered a recession. If it has a severe effect and takes longer than a few fiscal quarters it is considered a depression .

When was the Last Recession?

The last recession was in 2008, it is believed to be the worst depression since the “Great Depression” The economy shrunk about five fiscal quarters in a row. This was also considered the longest depression America has ever experienced.

The Cause of this recession was due to Home Loans. Many loans were given out an extremely high rates and unaffordable prices. Then once the loans started all becoming defaulted on the economy slowed down. This caused the natural motion of job loss and less spending.

In the history of American economy recession happen approximately every ten years.

How to Make Money in a Recession?

This goes back to your supplement income ideas.

If you are interested in stock investments. Volatility stocks are going to be a great way to go. Over the past 3 months these stock have risen over 1,000%. This is what is known as betting against the market. These stock will make some rich who have invested early.

A recent example is TVIX stock. This stock was approx $59 before the crisis. below is its current trading mark.

Look for these opportune times to take advantage and come out on the other side with more wealth than when you went in.

Create your own Market.

Just like this page you landed on, you can create your own wealth in times where no one is hiring. To get an idea on how to generate free traffic go here.

In times like this it is so important to be thinking about passive income. Being helpful and knowledgeable in certain areas can be very profitable in times of economic need. Use this link to get Exclusive LOSTnLOVEco Discount

Try creating a website dedicated to delivering products or services to those who may need it. While now more than ever people will be attempting this strategy. It is important to know that with some diligence and research you too can generate income entirely on your own.

Below are some stats of visitors traveling to this page. This site is very young and already trending to have over 10k in visitors a month. Generating $1000.00 a month in passive income from over 3months of work.

If you are interested in getting assistance in creating a passive income all your own. Feel free to reach out to our partners at Denver Tech Center SEO.

Freelance writing is also another way to generate income on your own. LOSTnLOVEco is currently looking for good writers to join our team.

If you have the skill and understand keyword research and SEO you have a very good opportunity to become your own full time business.

Recession Proof Jobs.

Public utility services, are some of the most resilient jobs during an economic downturn. These jobs provide a public health service and are vital to keeping order maintaining public order. these would include: Trash, sewage, Recycling, Water and Electric.

Law Enforcement, is also a recession resistant job. During a recession their can be a increase in criminal activity to to the low economic resource. Many times more money is added to these factions as extra precautions are taken to bring down public anxiety.

Specialized Care is another job that is in need during recessions. Health programs stay in need no matter what the economy is. People value their health and even during financial hardships are willing to invest in life. Besides medical practice, other areas like counseling, elderly care and physical therapist tend to see less of a down slide.

Who Made Money During the Recession

Warren Buffet, made huge investments during the last recession buying stock in Goldman Sachs and General Electric. This play earned added billions to his already plentiful portfolio. Warren is quoted for saying: buying when there is blood in the streets is to “be fearful when others are greedy, and be greedy when others are fearful.”

Besides people many companies also made money during last recession here is just a handful. Many people speculate that these companies are going to make money in this recession.

• Hasbro (HAS)
• Ross Stores (ROST)
• Walmart (WMT)
• Amgen (AMGN)
• Anheuser Busch Inbev (BUD)
• H&R Block (HRB)
• Dollar Tree (DLTR)

How to Prepare for a Recession?

Preparing for a recession is something that needs to be done during the economic growth period. While there are changes to investments and living that you can be change quicker. Many of the preparations need to be made early.

Some of the things that can be done is when money is more plentiful make more long term investments instead of that don’t have much liquid value.

Knowing when to make purchases on things that depreciate over time vs items that become more valuable when cash flow is scarce is they golden egg.

An easy example is gold holds more of value over cars. During a time when people would rather drive what they have, but gold is something people know to be more of a tradable resource.

how to survive in a recession

Please follow up with us as we continue to bring your more information.

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