Episode 008: Preparing for a recession
On Wednesday, the Bank of Canada announced they would raise their benchmark interest rate by 0.25%.
Such a slight increase may mean the Bank of Canada feels the economy can weather this hike to lower inflation and avoid a recession.
However, we don’t all live in the same Canadian economy!
It means you should prepare, even if we aren’t in a technical recession.
Let’s talk about how we can prepare for a recession.
WHAT YOU’LL LEARN
What is a recession
How to think about your spending and savings to prepare
How to think about your investments and retirement accounts to not panic
How to nurture your networks and relationships before a recession hits.
THINGS MENTIONED IN THIS EPISODE
Episode 004: What is inflation? An explainer
Bank of Canada publishes 2023 schedule for interest rate announcements
I want to hear from you! Drop me a note at nobossofmepodcast@gmail.com or hit me up on IG @nobossofme.
Learn more about getting started with investing for financial fulfillment at https://www.liannehannaway.com/masterclass-live.
Music By @freebeats.io
