Are you prepared for the next global economic downturn? Here are 8 tips for you to get financially ready for any economic or financial crisis.

As the worldwide Covid-19 pandemic continues to rage, more businesses collapse and unemployment rates keep rising. One matter most people have in mind is…

Another global recession coming? If so, when? Or are we already in a recession? All the economic data appear to be pointing to this.

Although economists are still pondering the possibility of a downturn in the immediate future, it’s best to be cautious than sorry, especially for the normal working folks like you and me.

We can’t control and avoid a recession. So if you want to protect your financial position ahead of an economic crisis, do one thing. Be prepared by planning.

Get yourself ready to be recession-proof or at least to get through without serious financial harm via following the 8 tips below.

Tip #1: Invest in yourself to increase your earning capacity

How can you be more relevant or valuable to your employer? Are you labelled as the ‘go-to’ guy for solutions? Are you irreplaceable and an asset to your employer?

Mr Warren Buffett (who needs no introduction) goes to colleges often to teach and inspire pupils. One of his talks tells us the importance of our bodies and mind, to invest for a better future through ourselves and in education. He stated you are your greatest asset. Consider yourself as a treasured possession. He also said he will invest now in an excellent student for a certain percentage of his/her future earnings.

You would be valuable to yourself and society if you appreciate and grow yourself. How? Check your job path, then consider taking online classes that will improve your credentials. Find a ment