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My sister uses this technique of everytime she has a five dollar bill in her wallet she goes and deposits it in her bank account. Also stopped buying coffee. Just small things that add up
The coffee and boba tea really hurt me on controllable costs. I got one or the other everyday for months ($4-$6). I stopped for two weeks now.
A big thing is to learn about money and how it works. Do you have an emergency fund? (3-6 months of expenses), alternative source of income? Are you well networked? If you are worried and want to be ready is to know where you are with your expenses and savings monthly.
It’s like having a home with termites you can’t see until it’s too late, be proactive and know where your strengths and weaknesses are and get help if you don’t know where to start there are financial consultants you can seek out for a free review of your finances to plan for recessions and changes. If you want a referral let me know I have done this for myself and I feel ready for the economic changes to come, peace of mind is so important, I control what I can control and that’s myself and my own finances. Hope this helps!
Started cooking at home more (baked chicken, eggs, roasted veggies).. saves a lot to bring lunch.
And I didn’t give up social eating. That would make me feel even worse and add to anxiety lol. So I’ll still say yes to group lunches, dinner w/ friends on weekends, etc.
Also it makes me feel okay everyone is feeling the impact not just me. I lost a lot more though because I held Long dated options.
Just don’t - only worry about the things you can control.
We're still far from recession. Correction territory? Perhaps, but the fundamentals are still strong.