Are We in a Recession?
The US entered a recession in February 2020 according to the National Bureau of Economic Research. It’s hard to believe the United States has been in a recession as far back as February of this year.
Economists had already projected that the US would enter a recession within a couple of years. The pandemic has amplified the financial crisis for the country.
Everything has seemingly been disrupted. 2020 will be a year for the record books in every area. The economy is in tatters, we are in the middle of a health crises, unemployment is on track to be at the highest level in history, the education system is crumbling around us. We are experiencing challenging times at a level we have not experienced in our lifetime.
What is a recession?
A recession is a period where you see a significant slowdown in national economic activity over the course of several months. It’s a time when consumers and businesses typically try to cut spending and costs in response to the economic uncertainty. In a recession, you tend to see a spike in unemployment, stock market losses, distress in various business sectors and falling interest rates.
Here are five ways to survive this recession:
1. Cut your spending.
2. Get a realistic budget.
3. Create an emergency fund.
4. Pay off your debts.
5. Prove how valuable you are to your workplace.
It is possible for you to not only survive this recession but also to thrive. Everyone is not going to suffer during this recession. Even though we’re in the midst of a global pandemic, there are people who understand they can strategically do what is necessary to set themselves up to end this year strong.
Start becoming intentional about everything you do moving forward. Look at every area of your life and ask yourself how can you better position yourself to win despite all that’s happening in our world.
- Are we in a recession? Yes!
- Can you thrive in a recession? Yes!
- Are you destined to win? Yes!
- Are you a survivor? Yes!
- Will you come out of 2020 stronger? Yes!
Make this declaration: This recession is not going to stop me. Success is a choice, even in the midst of a recession.
Every weekday at 6:30 a.m., I share principles for Effective Living, the balance of faith, fitness, family, finances, and fun all with unlimited peace and satisfaction. Be sure to like my Facebook page, Effective Living with Ricardo Miller, and turn on your notifications to join me live.
Our next webinar, "No More Excuses", is coming up soon. Life will give you many excuses why you CAN’T. You only need one good reason why YOU CAN. Living effectively demands that you push yourself beyond the excuses. Go the extra mile. Push yourself!
The only person who is truly holding you back is you. It's time to change. It's time to live life at a NEW LEVEL! Register today for the webinar, HERE.
Stay connected with me on social media:
Facebook: EffectiveLivingWithRicardoMiller
Twitter: @RicardoMiller1
Instagram: @coachricardomiller
YouTube: Effective Living with Ricardo Miller
Are you receiving our emails? Sign up for our Effective Living Community email list here.
QUESTION OF THE WEEK: We have 4 months remaining this year. Have you put together a plan to finish the year strong?
Economists had already projected that the US would enter a recession within a couple of years. The pandemic has amplified the financial crisis for the country.
Everything has seemingly been disrupted. 2020 will be a year for the record books in every area. The economy is in tatters, we are in the middle of a health crises, unemployment is on track to be at the highest level in history, the education system is crumbling around us. We are experiencing challenging times at a level we have not experienced in our lifetime.
What is a recession?
A recession is a period where you see a significant slowdown in national economic activity over the course of several months. It’s a time when consumers and businesses typically try to cut spending and costs in response to the economic uncertainty. In a recession, you tend to see a spike in unemployment, stock market losses, distress in various business sectors and falling interest rates.
Here are five ways to survive this recession:
1. Cut your spending.
2. Get a realistic budget.
3. Create an emergency fund.
4. Pay off your debts.
5. Prove how valuable you are to your workplace.
It is possible for you to not only survive this recession but also to thrive. Everyone is not going to suffer during this recession. Even though we’re in the midst of a global pandemic, there are people who understand they can strategically do what is necessary to set themselves up to end this year strong.
Start becoming intentional about everything you do moving forward. Look at every area of your life and ask yourself how can you better position yourself to win despite all that’s happening in our world.
- Are we in a recession? Yes!
- Can you thrive in a recession? Yes!
- Are you destined to win? Yes!
- Are you a survivor? Yes!
- Will you come out of 2020 stronger? Yes!
Make this declaration: This recession is not going to stop me. Success is a choice, even in the midst of a recession.
Every weekday at 6:30 a.m., I share principles for Effective Living, the balance of faith, fitness, family, finances, and fun all with unlimited peace and satisfaction. Be sure to like my Facebook page, Effective Living with Ricardo Miller, and turn on your notifications to join me live.
Our next webinar, "No More Excuses", is coming up soon. Life will give you many excuses why you CAN’T. You only need one good reason why YOU CAN. Living effectively demands that you push yourself beyond the excuses. Go the extra mile. Push yourself!
The only person who is truly holding you back is you. It's time to change. It's time to live life at a NEW LEVEL! Register today for the webinar, HERE.
Stay connected with me on social media:
Facebook: EffectiveLivingWithRicardoMiller
Twitter: @RicardoMiller1
Instagram: @coachricardomiller
YouTube: Effective Living with Ricardo Miller
Are you receiving our emails? Sign up for our Effective Living Community email list here.
QUESTION OF THE WEEK: We have 4 months remaining this year. Have you put together a plan to finish the year strong?
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