8 Financial Moves To Make Now Before The Next Recession

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What's happening
Many economists and financial experts in the US are forecasting a recession, which is generally marked by two consecutive quarters where there's a significant slowdown in economic activity.

Why it matters
Previous recessions have all seen pervasive layoffs, higher costs of borrowing and a tumultuous stock market.


What's next
Focus on what you can control, gather facts and make moves to protect your finances. Above all, it's important to remain calm.





Are we in 2022? Amid all the noise about a possible economic downturn, Morgan Housel,  author said it best in a : "We're definitely heading toward a recession. The only thing that's uncertain is the timing, location, duration, magnitude, and policy response." 
The point he's making is that there's always a recession on the horizon -- economies are cyclical, with upswings and downturns. We just can't tell exactly what's happening while we're in the middle of it. We can only look back. Since the Great Depression, the US has had about a dozen economic setback periods lasting anywhere from a few months to over a year. 

Attempting to figure out recession specifics is a guessing game -- and anyone who tells you different is likely trying to sell you something.