What should be done to deal with the recession

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.

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