Many of those reading this have been through two periods of serious economic disturbance: the ‘08 recession, as well as the financial crisis that happened as a result of COVID (and is still unfolding to some degree.) As such, you might be looking at the ways the markets are shifting, and be thinking to yourself, “What can I do to protect my money in that situation?” Here, we’re going to look at a few options.
Get out of debt
As you might have expected, the first answer when it comes to anything related to financial security is to find your way out of debt as best as possible. Debt chains down your ability to use what money you have freely, and in times of economic uncertainty, when your own livelihood might be hit, it can become a lethal risk to your finances. Use tips such as debt consolidation to make it easier to start managing and paying off your debt now, and free up the resources that you need to do it as soon as you can.
Making your money shock-resistant
Investing your money and keeping it in assets, from stocks to crypto to real estate, is a good idea. It can help you grow your wealth, and diversify your holdings. However, in diversifying them, you want to make sure that at least some of your wealth is put into assets that are more resistant to changes in the market. For instance, you should look at the facts of
