{"id":58615,"date":"2025-04-17T02:37:45","date_gmt":"2025-04-17T06:37:45","guid":{"rendered":"https:\/\/www.iwillteachyoutoberich.com\/?p=58615"},"modified":"2025-04-17T07:58:22","modified_gmt":"2025-04-17T11:58:22","slug":"how-to-survive-a-recession","status":"publish","type":"post","link":"https:\/\/www.iwillteachyoutoberich.com\/how-to-survive-a-recession\/","title":{"rendered":"How to Survive a Recession (without freaking out)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"58615\" class=\"elementor elementor-58615\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ebfb8f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"ebfb8f5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60c24d1\" data-id=\"60c24d1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-437c93c elementor-widget elementor-widget-text-editor\" data-id=\"437c93c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"background-color: rgb(245, 238, 228);\">Here are our tips on how to survive a recession. For a lot of you, this is your first time and it can be scary. Don&#8217;t worry! I&#8217;ve done this before and have some simple rules to help you get through this.<\/span><br><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-572a417 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"572a417\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3c2abb8\" data-id=\"3c2abb8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-71f0466 elementor-widget elementor-widget-video\" data-id=\"71f0466\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/eonC0lsC45U&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d273709 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"d273709\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-abbd310\" data-id=\"abbd310\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-240e2e1 elementor-widget elementor-widget-text-editor\" data-id=\"240e2e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><i style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; background-color: #f5eee4;\"><span style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000;\">[Transcribed and adapted from the YouTube video: \u2018<\/span><\/i><a style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; background-color: #f5eee4;\" href=\"https:\/\/www.youtube.com\/watch?v=eonC0lsC45U&amp;t=607s\"><i style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000;\"><span style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; font-weight: 400;\">My 3 Money Rules for a Recession<\/span><\/i><\/a><i style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; background-color: #f5eee4;\"><span style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000;\">\u2019]<\/span><\/i><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2f4e9e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"2f4e9e5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-32a60f1\" data-id=\"32a60f1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7b7de7f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"7b7de7f5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-23714b26\" data-id=\"23714b26\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4cc931f4 elementor-widget elementor-widget-text-editor\" data-id=\"4cc931f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><\/p>\n<p><\/p>\n<h2><span style=\"color: inherit; font-family: 'PP Mori', 'PP Mori'; font-size: 32px; font-weight: 600; letter-spacing: 0px;\">Key Takeaways<\/span><\/h2>\n<p><\/p>\n<ul class=\"wp-block-list\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Recessions demand that you recognize reality, make plans, and act on them.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Take care of your family and friends.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Do not sell your investments. And, if you can, continue to invest in the market.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Keep an open mind to new opportunities.<\/span><\/li>\n<\/ul>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">We encounter thousands of decisions throughout our lifetime. Should I buy this? Should I take that trip? Should I upgrade my seat? I narrowed down those millions of life choices to a few simple rules. You can find <a href=\"https:\/\/youtu.be\/DLU2o96tOu4\">Ramit\u2019s 10 money rules<\/a> that I use to guide my thinking about money, my spending, et cetera.\u00a0<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">But how do you survive a recession? I&#8217;m going to share three money rules that I have used to guide my decisions to survive a recession.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">I previously shared a framework for what you have to do at a time like this: we need to acknowledge reality, make a plan, and act on it. Many people do the opposite<\/span><span style=\"font-weight: 400;\">\u2014<\/span><span style=\"font-weight: 400;\">they freeze in place and wait for someone to tell them it&#8217;s going to be okay. Now, keep in mind that my financial situation is different than yours, and it&#8217;s different than even my own 10 years ago in the 2009 recession. Nevertheless, here are my rules.<\/span><\/p>\n<p><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-how-to-survive-a-recession\">How to Survive a Recession<\/h2>\n<p><\/p>\n<h3 class=\"wp-block-heading\">Rule #1: Take Care of Your Family and Friends<\/h3>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">The first rule is not a hard-and-fast rule, like stopping 401k contributions\u2014it\u2019s more of an emotional one.<\/span> <span style=\"font-weight: 400;\">Rule number one: take care of your family and friends as much as you possibly can.\u00a0<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">For me, that meant that the first thing I did was to determine that it was necessary to take me and my family somewhere safe., I started looking in early March, and I used the money to make quick decisions that I normally would not have made. We rented a car, found a place, and went\u2014we didn&#8217;t prioritize cost over the safety of family and friends.\u00a0<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Next, check in on your immediate family and friends. Call up those who are closest to you, make sure everybody&#8217;s okay, and find out how you can be of help. If that means groceries, figure out a way to get groceries to them. And don\u2019t concern yourselves with the cost. During times of distress like the pandemic and its resulting recession, those costs aren\u2019t as important as taking care of those around you.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">In my position, taking care of people also meant letting the folks at I Will Teach You To Be Rich know that we will do everything we can to support them, starting with a $1000 coronavirus stipend.\u00a0<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">That all falls under that first rule: take care of your friends and family.<\/span><\/p>\n<p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9716803 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"9716803\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8a54819\" data-id=\"8a54819\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1cd0bb6 elementor-widget elementor-widget-qi_addons_for_elementor_blockquote\" data-id=\"1cd0bb6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"qi_addons_for_elementor_blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m qodef-qi-blockquote qodef-layout--top qodef--\">\n\t\t\t\t<h4 class=\"qodef-m-text\">\n\t\t\tLearn to take control of your finances and spend your money GUILT-FREE with our free Ultimate Guide To Personal Finance below:\t\t<\/h4>\n\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c36b44d elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"c36b44d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31b8379\" data-id=\"31b8379\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-198eb3b elementor-widget elementor-widget-qi_addons_for_elementor_wp_forms\" data-id=\"198eb3b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"qi_addons_for_elementor_wp_forms.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m qodef-qi-wp-forms\">\n\t<div class=\"wpforms-container wpforms-container-full\" id=\"wpforms-53563\"><form id=\"wpforms-form-53563\" class=\"wpforms-validate wpforms-form\" data-formid=\"53563\" method=\"post\" enctype=\"multipart\/form-data\" action=\"\/wp-json\/wp\/v2\/posts\/58615\" data-token=\"616c9873956056bb406a67057db9d712\" data-token-time=\"1779981310\"><noscript class=\"wpforms-error-noscript\">Please enable JavaScript in your browser to complete this form.<\/noscript><div class=\"wpforms-field-container\"><div id=\"wpforms-53563-field_18-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"18\"><input type=\"hidden\" id=\"wpforms-53563-field_18\" name=\"wpforms[fields][18]\" value=\"https:\/\/www.iwillteachyoutoberich.com\/c-ultimate-guide-to-personal-finance\/\"><\/div><div id=\"wpforms-53563-field_1-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"1\"><input type=\"hidden\" id=\"wpforms-53563-field_1\" name=\"wpforms[fields][1]\" value=\"164.52.120.13\"><\/div><div id=\"wpforms-53563-field_2-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"2\"><input type=\"hidden\" id=\"wpforms-53563-field_2\" name=\"wpforms[fields][2]\"><\/div><div id=\"wpforms-53563-field_3-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"3\"><input type=\"hidden\" id=\"wpforms-53563-field_3\" name=\"wpforms[fields][3]\"><\/div><div id=\"wpforms-53563-field_4-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"4\"><input type=\"hidden\" id=\"wpforms-53563-field_4\" name=\"wpforms[fields][4]\"><\/div><div id=\"wpforms-53563-field_5-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"5\"><input type=\"hidden\" id=\"wpforms-53563-field_5\" name=\"wpforms[fields][5]\"><\/div><div id=\"wpforms-53563-field_6-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"6\"><input type=\"hidden\" id=\"wpforms-53563-field_6\" name=\"wpforms[fields][6]\"><\/div><div id=\"wpforms-53563-field_7-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"7\"><input type=\"hidden\" id=\"wpforms-53563-field_7\" name=\"wpforms[fields][7]\"><\/div><div id=\"wpforms-53563-field_12-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"12\"><input type=\"hidden\" id=\"wpforms-53563-field_12\" name=\"wpforms[fields][12]\" value=\"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615\"><\/div><div id=\"wpforms-53563-field_13-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"13\"><input type=\"hidden\" id=\"wpforms-53563-field_13\" name=\"wpforms[fields][13]\" value=\"53563\"><\/div><div id=\"wpforms-53563-field_15-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"15\"><input type=\"hidden\" id=\"wpforms-53563-field_15\" name=\"wpforms[fields][15]\" value=\" \/ UG to Personal Finance\"><\/div><div id=\"wpforms-53563-field_14-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"14\"><input type=\"hidden\" id=\"wpforms-53563-field_14\" name=\"wpforms[fields][14]\" value=\"{entry_page}\"><\/div><div id=\"wpforms-53563-field_20-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"20\"><div id=\"wpforms-53563-field_20\"><strong>If you like this post, you'd love my Ultimate Guide to Personal Finance<\/strong><\/div><\/div><div id=\"wpforms-53563-field_21-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"21\"><div id=\"wpforms-53563-field_21\">It\u2019s one of the best things I\u2019ve published (and 100% free), just tell me where to send it:<\/div><\/div><div id=\"wpforms-53563-field_10-container\" class=\"wpforms-field wpforms-field-name\" data-field-type=\"name\" data-field-id=\"10\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-53563-field_10\">First Name <span class=\"wpforms-required-label\">*<\/span><\/label><input type=\"text\" id=\"wpforms-53563-field_10\" class=\"wpforms-field-medium wpforms-field-required\" name=\"wpforms[fields][10]\" placeholder=\"First Name\" required><\/div><div id=\"wpforms-53563-field_11-container\" class=\"wpforms-field wpforms-field-email\" data-field-type=\"email\" data-field-id=\"11\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-53563-field_11\">Email <span class=\"wpforms-required-label\">*<\/span><\/label><input type=\"email\" id=\"wpforms-53563-field_11\" class=\"wpforms-field-medium wpforms-field-required\" data-rule-restricted-email=\"1\" name=\"wpforms[fields][11]\" placeholder=\"Email Address\" spellcheck=\"false\" required><\/div><div id=\"wpforms-53563-field_19-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"19\"><div id=\"wpforms-53563-field_19\">Along with the guide, I'll also send you my Insiders newsletter where I share other exclusive content that's not on the blog.<\/div><\/div><\/div><!-- .wpforms-field-container --><div class=\"wpforms-submit-container\" ><input type=\"hidden\" name=\"wpforms[id]\" value=\"53563\"><input type=\"hidden\" name=\"page_title\" value=\"\"><input type=\"hidden\" name=\"page_url\" value=\"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615\"><input type=\"hidden\" name=\"url_referer\" value=\"\"><button type=\"submit\" name=\"wpforms[submit]\" id=\"wpforms-submit-53563\" class=\"wpforms-submit\" data-alt-text=\"Sending...\" data-submit-text=\"Send me the guide!\" aria-live=\"assertive\" value=\"wpforms-submit\">Send me the guide!<\/button><\/div><\/form><\/div>  <!-- .wpforms-container --><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e41db4a elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"e41db4a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c18e2a\" data-id=\"5c18e2a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-60fa7d4 elementor-widget elementor-widget-text-editor\" data-id=\"60fa7d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3>Rule #2: Do Not Sell Your Investments During a Recession<\/h3>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">The second rule is simple: don&#8217;t sell investments and stay the course.\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">Many of you who have read chapters three and seven of my book know that I talk about low-cost, long-term investing. And you know that I talk about how the market fluctuates, but over time it tends to go up at an average return of approximately 7-8% per year. Notice I said average. In some years it could go up 25%. In some years it could drop by 14%. However, on average, that is what the historical return tells us.<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">Because I&#8217;ve read enough, been involved in the personal finance world for a long time, and I&#8217;ve been through recessions with smaller amounts of money in my account\u2014this was just a small test to be able to follow my plan. And my plan says to keep investing as I&#8217;ve always done. In fact, if I have extra money, go ahead and add that to the market.<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">I received a note, recently, that said: &#8220;Ramit, I read your whole book. It was great. Unfortunately, last week I got scared and I sold all my investments. What should I do?&#8221;\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">That person\u2019s reaction is a perfect example of a person who has information about long-term returns and everything else, but it didn\u2019t matter. Emotionally they did not connect with the plan\u2014they didn&#8217;t believe it. So, they made a huge money mistake.<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">If you can simply not make a huge money mistake right now, that is a huge benefit to you in the long run. A massive part of making smart choices is to not sell your investments. On the other hand, if you can keep investing during a recession, you will probably do very, very well.<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading {\"level\":3} --><\/p>\n<h3>Rule #3 Always Look For New Opportunities<\/h3>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">Rule number three is to look for new opportunities\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">If you are playing defense, and you&#8217;re building up an emergency fund: do that first. Let\u2019s say you&#8217;ve already been doing the plan and executing it\u2014it\u2019s time to start looking for opportunities.\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">Honestly, I don&#8217;t know what those opportunities will turn out to be.\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">There&#8217;s a certain point when it\u2019s time to play offense. Once you&#8217;ve checked the boxes playing defense, start to look for opportunities to supplement your cash flow. If you have the resources, these opportunities can present themselves in several ways:<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:list --><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Learn a new skill. There are plenty of free websites that offer free online courses that teach everything from coding to cooking.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Look to places where you can be of service. These opportunities may not have a direct effect on your checking account, but finding ways to contribute to your community can help you stay involved and could lead to fascinating network opportunities.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Develop deeper relationships with your family and friends. We all need those mental breaks from the stress of the world\u2014why not talk it out with people you love?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Take inventory of your spending and saving. As I mentioned in my previous article about <a href=\"https:\/\/www.iwillteachyoutoberich.com\/emergency-fund\/\">how to save for an emergency fund<\/a>, now is the perfect opportunity to look at where your money goes and where it\u2019s coming in from.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Refresh your resumes, cover letters, LinkedIn profiles, or anything else you would need to enter the job market if that\u2019s what it came to.\u00a0<\/span><\/li>\n<\/ul>\n<p><!-- \/wp:list --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">You never know where your next opportunity might come from. Keep an open mind, make sure your foundations are solid, and go on the offensive.\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2>Don\u2019t Panic, Stay the Course, and Move Forward<\/h2>\n<p><!-- \/wp:heading --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">I understand that a lot of people are still at the phase where they\u2019re building up their emergency fund and developing a solid framework. That is completely valid.\u00a0<\/span><\/p>\n<p><!-- \/wp:paragraph --><!-- wp:paragraph --><\/p>\n<p><span style=\"font-weight: 400;\">I wanted to share the way I think about how to survive a recession, specifically as it relates to money. My hope for you is that these rules will allow you to start thinking about what you can do to move forward, to use your money, to help people, to not play defense and shrink, but to think bigger. It will benefit you, your family, your investments, and your opportunities.<\/span><\/p>\n<h2>FAQs About\u00a0How to Survive a Recession<\/h2>\n<h3>What is a recession?<\/h3>\n<p>A recession is a period of economic decline characterized by a decrease in the gross domestic product (GDP) for two or more consecutive quarters.<\/p>\n<h3>How can I protect my investments during a recession?<\/h3>\n<p>To protect your investments during a recession, you can consider <a href=\"https:\/\/www.iwillteachyoutoberich.com\/blog\/diversified-portfolio-examples\/\">diversifying your portfolio<\/a>, focusing on long-term investments, and avoiding making hasty decisions based on short-term market fluctuations.<\/p>\n<h3>How can I help my small business survive a recession?<\/h3>\n<p>To help your small business survive a recession, you can focus on cash flow management, diversify your products or services, explore <a href=\"https:\/\/www.iwillteachyoutoberich.com\/blog\/side-hustle-ideas\/\">new revenue streams<\/a>, and focus on customer retention.<\/p>\n<p>What are some ways to increase my income during a recession?<\/p>\n<p>To increase your income during a recession, you can look for <a href=\"https:\/\/www.iwillteachyoutoberich.com\/blog\/side-hustle-ideas\/\">side hustles<\/a>, <a href=\"https:\/\/www.iwillteachyoutoberich.com\/blog\/how-to-freelance\/\">freelance work<\/a>, or part-time jobs. You can also consider <a href=\"https:\/\/www.iwillteachyoutoberich.com\/blog\/how-to-sell-in-a-way-thats-not-sleazy\/\">selling items you no longer need<\/a> or renting out a spare room on platforms like Airbnb.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e343b85 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"e343b85\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c9928d3\" data-id=\"c9928d3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9341dd3 elementor-widget elementor-widget-qi_addons_for_elementor_blockquote\" data-id=\"9341dd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"qi_addons_for_elementor_blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m qodef-qi-blockquote qodef-layout--top qodef--\">\n\t\t\t\t<h4 class=\"qodef-m-text\">\n\t\t\tReady to improve your habits and level up your life? Download our FREE Ultimate Guide To Habits below.\t\t<\/h4>\n\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26f2a36 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"26f2a36\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bc9c02d\" data-id=\"bc9c02d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-127fe01 elementor-widget elementor-widget-qi_addons_for_elementor_wp_forms\" data-id=\"127fe01\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"qi_addons_for_elementor_wp_forms.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m qodef-qi-wp-forms\">\n\t<div class=\"wpforms-container wpforms-container-full\" id=\"wpforms-53565\"><form id=\"wpforms-form-53565\" class=\"wpforms-validate wpforms-form\" data-formid=\"53565\" method=\"post\" enctype=\"multipart\/form-data\" action=\"\/wp-json\/wp\/v2\/posts\/58615\" data-token=\"66e6af08d87f69840240b16cedd73b28\" data-token-time=\"1779981310\"><noscript class=\"wpforms-error-noscript\">Please enable JavaScript in your browser to complete this form.<\/noscript><div class=\"wpforms-field-container\"><div id=\"wpforms-53565-field_18-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"18\"><input type=\"hidden\" id=\"wpforms-53565-field_18\" name=\"wpforms[fields][18]\" value=\"https:\/\/www.iwillteachyoutoberich.com\/c-ultimate-guide-to-habits\/\"><\/div><div id=\"wpforms-53565-field_1-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"1\"><input type=\"hidden\" id=\"wpforms-53565-field_1\" name=\"wpforms[fields][1]\" value=\"164.52.120.13\"><\/div><div id=\"wpforms-53565-field_2-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"2\"><input type=\"hidden\" id=\"wpforms-53565-field_2\" name=\"wpforms[fields][2]\"><\/div><div id=\"wpforms-53565-field_3-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"3\"><input type=\"hidden\" id=\"wpforms-53565-field_3\" name=\"wpforms[fields][3]\"><\/div><div id=\"wpforms-53565-field_4-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"4\"><input type=\"hidden\" id=\"wpforms-53565-field_4\" name=\"wpforms[fields][4]\"><\/div><div id=\"wpforms-53565-field_5-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"5\"><input type=\"hidden\" id=\"wpforms-53565-field_5\" name=\"wpforms[fields][5]\"><\/div><div id=\"wpforms-53565-field_6-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"6\"><input type=\"hidden\" id=\"wpforms-53565-field_6\" name=\"wpforms[fields][6]\"><\/div><div id=\"wpforms-53565-field_7-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"7\"><input type=\"hidden\" id=\"wpforms-53565-field_7\" name=\"wpforms[fields][7]\"><\/div><div id=\"wpforms-53565-field_12-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"12\"><input type=\"hidden\" id=\"wpforms-53565-field_12\" name=\"wpforms[fields][12]\" value=\"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615\"><\/div><div id=\"wpforms-53565-field_13-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"13\"><input type=\"hidden\" id=\"wpforms-53565-field_13\" name=\"wpforms[fields][13]\" value=\"53565\"><\/div><div id=\"wpforms-53565-field_15-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"15\"><input type=\"hidden\" id=\"wpforms-53565-field_15\" name=\"wpforms[fields][15]\" value=\" \/ UG to Habits\"><\/div><div id=\"wpforms-53565-field_14-container\" class=\"wpforms-field wpforms-field-hidden\" data-field-type=\"hidden\" data-field-id=\"14\"><input type=\"hidden\" id=\"wpforms-53565-field_14\" name=\"wpforms[fields][14]\" value=\"{entry_page}\"><\/div><div id=\"wpforms-53565-field_20-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"20\"><div id=\"wpforms-53565-field_20\"><strong>If you like this post, you'd love my Ultimate Guide to Habits<\/strong><\/div><\/div><div id=\"wpforms-53565-field_21-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"21\"><div id=\"wpforms-53565-field_21\">It\u2019s one of the best things I\u2019ve published (and 100% free), just tell me where to send it:<\/div><\/div><div id=\"wpforms-53565-field_10-container\" class=\"wpforms-field wpforms-field-name\" data-field-type=\"name\" data-field-id=\"10\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-53565-field_10\">First Name <span class=\"wpforms-required-label\">*<\/span><\/label><input type=\"text\" id=\"wpforms-53565-field_10\" class=\"wpforms-field-medium wpforms-field-required\" name=\"wpforms[fields][10]\" placeholder=\"First Name\" required><\/div><div id=\"wpforms-53565-field_11-container\" class=\"wpforms-field wpforms-field-email\" data-field-type=\"email\" data-field-id=\"11\"><label class=\"wpforms-field-label wpforms-label-hide\" for=\"wpforms-53565-field_11\">Email <span class=\"wpforms-required-label\">*<\/span><\/label><input type=\"email\" id=\"wpforms-53565-field_11\" class=\"wpforms-field-medium wpforms-field-required\" data-rule-restricted-email=\"1\" name=\"wpforms[fields][11]\" placeholder=\"Email Address\" spellcheck=\"false\" required><\/div><div id=\"wpforms-53565-field_19-container\" class=\"wpforms-field wpforms-field-html\" data-field-type=\"html\" data-field-id=\"19\"><div id=\"wpforms-53565-field_19\">Along with the guide, I'll also send you my Insiders newsletter where I share other exclusive content that's not on the blog.<\/div><\/div><\/div><!-- .wpforms-field-container --><div class=\"wpforms-submit-container\" ><input type=\"hidden\" name=\"wpforms[id]\" value=\"53565\"><input type=\"hidden\" name=\"page_title\" value=\"\"><input type=\"hidden\" name=\"page_url\" value=\"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615\"><input type=\"hidden\" name=\"url_referer\" value=\"\"><button type=\"submit\" name=\"wpforms[submit]\" id=\"wpforms-submit-53565\" class=\"wpforms-submit\" data-alt-text=\"Sending...\" data-submit-text=\"Send me the guide!\" aria-live=\"assertive\" value=\"wpforms-submit\">Send me the guide!<\/button><\/div><\/form><\/div>  <!-- .wpforms-container --><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>If a recession is on the horizon, don\u2019t panic. I\u2019ve been through multiple economic downturns, and I\u2019ll show you strategies to help you survive and even potentially thrive during these challenging times.\u00a0 What the Hell Is a Recession, Anyway? If this is your first time living through a recession, let\u2019s break down what\u2019s actually happening. [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":120647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"_lmt_disableupdate":"no","_lmt_disable":"","_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[160],"class_list":["post-58615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"acf":[],"aioseo_notices":[],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/comments?post=58615"}],"version-history":[{"count":0,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/58615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/media\/120647"}],"wp:attachment":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/media?parent=58615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/categories?post=58615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}