Recession Planning: How to Protect Your Money and Business

Recessions are triggered by a multitude of factors, causing a chain of events that impact the economy. In this episode, Ben Kinney and Chad Hyams share some of those triggers and four questions to ask yourself to bulletproof your household and business.  

In this episode, we cover the following:

• Is an economic shift coming? [1:15]  
• Controlling inflation and potential uncertainty [2:20]
• Protecting and saving your money [3:50]
• History of recessions and the Fed [4:35]
• Losing confidence in the economy or investments [9:42]
• High-interest rates [11:00]
• Crashing stock markets and housing prices [12:38]
• De-regulation [15:04]
• Bad business practices [15:30]
• Post-war slowdown [17:01]
• Credit crunches [18:22]
• Bubble bursts [21:36]
• Deflation [21:57]
• Planning for a recession [23:41]
• Avoiding the dumb tax [24:37]
• Why are you lacking extra money at the end of the month? [26:26]
• Where are you incurring costs that you can live without? [29:20]
• How you can increase your cash on hand by 20% right now? [31:15]
• How long would you survive if your worst income month became your new average month? [32:18]
• Red, yellow, and green highlighter exercise [32:30]
• Bulletproofing your household and business [34:20]
• Enroll in the Wealth Series 2.0 [35:59]

Resources discussed in this episode:

• Enroll in Wealth Series 2.0: https://WinMakeGive.com/wealth/ 
• 7 Tips to Prepare for a Recession and Take Advantage of Opportunities: https://apple.co/3YJWiO1
• Money - How Does it All Work? episode: https://apple.co/45l5ACs
• Win Make Give Facebook group: https://www.facebook.com/groups/WinMakeGive

Connect with the hosts:

• Ben Kinney: https://www.BenKinney.com/
• Bob Stewart: https://www.linkedin.com/in/activebob
• Chad Hyams: https://ChadHyams.com/
• Book one of our co-hosts for your next event: https://WinMakeGive.com/speakers/

More ways to connect: 

• Sign up for our weekly newsletter: https://WinMakeGive.com/sign-up
• Explore the Win Make Give Podcast Network: https://WinMakeGive.com/
• Listen to Win Make Give Season 3 on YouTube: bit.ly/3pPEdA

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Part of the Win Make Give Podcast Network