Being in a Recession: What You Must Be Aware of | About That

The R-word has been thrown around a lot, with some experts predicting that Canada could enter a recession in early 2023. Andrew Chang answers the questions you might have, like what a recession actually is and why it can be terrible to live through. He also talks to financial counsellor Jessica Moorhouse for tips on how to stay afloat through a financial storm. »»» Subscribe to CBC News to watch more videos: Connect with CBC News Online: For breaking news, video, audio and in-depth coverage: Find CBC News on Facebook: Follow CBC News on Twitter: For breaking news on Twitter: Follow CBC News on Instagram: Subscribe to CBC News on Snapchat: Download the CBC News app for iOS: Download the CBC News app for Android: »»»»»»»»»»»»»»»»»» For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians....(read more)

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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
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As the world grapples with the COVID-19 pandemic, many countries are facing the possibility of a recession. A recession is defined as a significant decline in economic activity, which lasts for a sustained period of time. A recession is characterized by a decrease in gross domestic product (GDP), a rise in unemployment rates, a decrease in consumer spending, and a decline in business activity. In such times, it is important to understand what it means to be in a recession and how to navigate the situation. The first thing to understand is that a recession affects the economy as a whole, which means that the impact is not confined to a certain sector or section of the population. A recession affects everyone from the rich to the poor, and it can have a profound impact on people's lives. During a recession, businesses are more likely to lay off workers, which can lead to a rise in unemployment rates and a decrease in consumer spending. This in turn can lead to a decrease in business activity, as companies struggle to stay afloat. Another thing to know about being in a recession is that it can be a stressful and challenging time. People may find themselves struggling to make ends meet, as their income may be reduced or they may lose their job. It can also be difficult to find new job opportunities during a recession, as businesses are less likely to expand or hire new employees. This can lead to a feeling of uncertainty and anxiety, as people worry about their financial future. One of the key things to remember during a recession is to be financially prepared. This means having a savings account, reducing unnecessary spending, and living within your means. It is also important to have a solid understanding of your financial situation, including your income, expenses, and debt. This will allow you to make informed decisions about how to manage your finances during a recession. Another important aspect of being in a recession is to stay informed about economic trends and developments. This means paying attention to the news and staying up-to-date on government policies and programs that may affect your financial situation. It is also important to network and stay in touch with colleagues and industry professionals, as they may be able to provide valuable information and opportunities during a difficult job market. In conclusion, being in a recession can be a challenging and stressful time. However, by being financially prepared, staying informed, and networking with others, it is possible to navigate this difficult economic environment and emerge on the other side with your financial health intact. https://inflationprotection.org/being-in-a-recession-what-you-must-be-aware-of-about-that/?feed_id=102978&_unique_id=647710eaeeaa3 #Inflation #Retirement #GoldIRA #Wealth #Investing #aboutthat #andrewchang #canada #canadarecession #CBC #cbcexplore #CBCNews #Chang #Finance #financialadvice #financialcounsellor #financialtips #jessicamoorhouse #money #recession #recessiontips #RecessionNews #aboutthat #andrewchang #canada #canadarecession #CBC #cbcexplore #CBCNews #Chang #Finance #financialadvice #financialcounsellor #financialtips #jessicamoorhouse #money #recession #recessiontips