Are You Recession-Proof?

Depending on who you listen to there either definitely will or definitely won't be a recession in the not-too-distant future.  Your guess is as good as mine whether a recession will happen but why not make yourself as recession-proof as possible?  To do this, consider...

• Building up a six to twelve month emergency fund.
• Stockpiling a bit of cash at home for smaller financial emergencies.
• Paying off debt (ALL debt--credit cards, student loans, car loans, home loans, etc) as quickly as possible,
• Developing multiple sources of income.
• Living below your means.
• Diversifying your investments.
• Keeping your credit score high.
• If you are a two income family, be able to live on one income; if you are a single income family, be able to live on half your income.
• Expanding your job skills.
• Downsizing, if you are living beyond your means (get a cheaper car, move to a smaller house, etc).
• Stockpiling a good amount of food and consumer items (like toilet paper, soap, shampoo, etc).

While the aforementioned items will hold you in good stead during a financial recession, those same preps will help you through almost any other sort of emergency as well.