Recessions bring about job loss and economic downturns that cause lower pay and less money. If you can pay off any high-interest debts you may have accumulated before a recession hits, you will have a better economic standing to help weather the storm.
You must learn how to budget your money and live below your means. If you truly want to prepare for a recession, learning how to live within your means is paramount to surviving.
Investing for the long term sets you up in case of a downturn in the market. Your portfolio should be filled with excellent long-term investments that can outlast market volatility.
Finding a recession-proof job such as healthcare, skilled labor like a plumber, or any other positions that would always be needed can help you with your employment as economic downturns occur.
Creating multiple streams of income is like diversifying your investments. You not only make various ways to bring revenue into your pocket, but you are allowing yourself to create recession-proof avenues for income.