What should be done to deal with the recession

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Now there is panic all over the world, what a recession is coming again. The most well-known sign of a recession is a stock market crash; At least in the developed countries of the world. But personal financial advisers say there is no reason to fear a stock market crash. Rather, it is an opportunity to buy more shares at a lower price.

In a video message, Michel Singlettari, a Washington Post personal finance columnist, said the Federal Reserve has been raising policy interest rates from time to time. This has reduced the flow of money in the country. With that, the situation in the stock market is not good, the price of cryptocurrency has come down from the sky to the ground. As a result, a kind of panic has naturally been created in the minds of the people.
But Michelle thinks people don’t have to panic when the stock market collapses.

In this situation he has given some advice to the people. He said that whether the recession comes or not, some precautions have to be taken. He has this advice on stock market first. The precondition for investing in the stock market is to know when to invest in the market and when to leave the stock. When the market is down, you have to wait for a good time by investing, that is, you have to wait for the selling opportunity as soon as the index starts to go up.

Michelle suggested doing another important thing during or before the recession. That is, if you have a credit card debt or arrears, you need to repay it as quickly as possible. Credit card interest rates are also expected to rise due to the rise in policy interest rates.

Then Michelle’s advice, save as much as possible. You may not have a problem, you may not have a salary, but we do not know what will happen in the near future. So you should have some savings for emergency protection. Recession is the ideal time to save, it is better not to spend time that is not very necessary. This trend has been seen in people even during lockdown. Then a large amount of money was accumulated in the hands of the people of developed countries. This is where the current high inflation started.