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If there is a recession when is it likely to happen?

5 replies

PurpleChevron · 22/05/2020 16:27

The idea of a massive recession worries me more than the virus. I have no financial knowledge and I am not really old enough to remember previous recessions. Is there anything you can do to brace yourself for it or prepare? Will we know it is coming?

OP posts:
VeganVeal · 22/05/2020 16:34

Its here, nothing you can do

Waxonwaxoff0 · 22/05/2020 16:34

It is already here.

Movinghouseatlast · 22/05/2020 16:36

Unless you have huge amounts of savings there is nothing you can do except hope for the best.

I'm terrified. I had just ploughed everything into starting a new business.

PurpleChevron · 22/05/2020 16:39

would it be best to pay off my credit card asap?

Finish jobs/diy off around the house, get the car fixed. I am really worried about losing my job.

OP posts:
Jocasta2018 · 22/05/2020 17:23

I'd sort out the credit card and the car (if you need it regularly).
Provided you're not living in a health hazard then leave the house til the situation becomes clearer.

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