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@hearthborn@mindly.socialIs it just me or is everyones aware that we are approaching to an expected recession?
@hearthborn I’ll believe it when I see a restaurant that isn’t packed with customers. Everywhere I go is busy!
@madrobin For now.
@hearthborn I've always thought that recessions are sometimes self-fulfilled prophecies. Everyone starts saying "the recession is coming, watch your spending!" So people stop spending, so we go into a recession.
I know it's not completely like that, but I'm pretty sure that's a factor. Just think about how many companies are laying off workers or freezing hiring in anticipation of an expected recession and then claiming to be proactive about protecting their business.
#recession #economy
@bertwood Yeah for sure this gives a lot of perspective too.
@hearthborn my financial advice for people would be to make sure they have enough savings to cover a good 2-3 months (in case they do lose their job or something else bad happens). If they've got that, then just keep spending as normal.
Btw, everyone should always try to have some savings put aside in case of trouble regardless of if the economy is doing well or not.
@bertwood Coincidentally my mother brought us up with that mentality. 
@hearthborn that's great! That's definitely one of those early personal finance lessons everyone needs to learn. It actually helps make life so much less stressful compared to living paycheck to paycheck.
I know some people will argue that maybe their situations don't allow for that, and in some cases that may be true. But in many cases, it's really just not having that mentality as you say, which has led them to their situation which has now become difficult to get out of.
#personalfinance
@bertwood Yeah makes sense. I learn to manage enough that I have my savings, investments, money that i spend on things I need and Want as well. So all I can say is Mums are geniuses 