As whispers of a potential recession grow louder, it’s increasingly important to be proactive.
First, tighten your budget – skip that third brunch and audit monthly subscriptions. Build an emergency fund, ideally three to six months’ worth of expenses. If you own a home, consider refinancing before rates rise. Diversify income streams with side hustles or gig work (Atlanta’s creative and tech scenes offer plenty!). Lastly, shop locally and support small businesses. They keep our communities strong even in tough times.
A little preparation now can go a long way in maintaining financial resilience, regardless of what the economy may bring.
– Abby Watkins, 360 Media, Inc.