00:00Economists have been predicting a recession since the start of the COVID-19 pandemic,
00:04and luckily it has yet to happen.
00:07Experts say whether an economic downturn reaches you next week or several years from now, you
00:11will feel its bite eventually, and there are certain things you can do now to prepare.
00:16First, you need to save your cash now so you can buy stocks when they're cheap.
00:21Money Talks News says once the market plunges, that's your sign to buy.
00:25Next, it's time to make sure you have great credit.
00:28Experts say during a recession, lenders tighten the purse strings, and credit becomes harder
00:32to access.
00:33So, if you keep up with it now, you'll have credit when you need it.
00:37Not ready to buy a home yet?
00:38No worries!
00:39Save now for a down payment so you can snatch a bargain home during a recession.
00:44And finally, if you plan to do a major home renovation, put the money to the side for
00:48now and get it done while contractors may be willing to work for less when times turn
00:53tough.
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