I'm sure many of you have heard that the white house has said that a recession isn't inevitable, which makes me think that it is, in fact, inevitable.

I've purged unneeded subscriptions, eating out, and now I only travel by car when necessary, which is fairly often unfortunately. what else can be done to soften the blow?

  • CheGueBeara [he/him]
    ·
    2 years ago

    Get involved in mutual aid, since we all benefit from things like communal cooking.

    Most other recommendations essentially amount to poverty finance, i.e. strategies to spend less money overall. Bulk buying food, moving away from disposable items when cheap reusables are available, cooking your own food, making your own processed foods (a good blender + salted peanuts = really good peanut butter), get a bidet so you need very little TP, get a TP stockpile, stock up on vitamins and store in a cool, dark place, minimize driving, maximize active transportation, buy good health insurance if you can afford it, find a stable rent situation or buy if you have the means.

    Buying gold is a good hedge for multiple scenarios, including inflation, particularly hyperinflation. But also now you're a gold weirdo and you've gotta properly secure it somewhere, so keep that in mind. In the case of hyperinflation or some other crisis, the gold is your ticket out of the country and the only wealth you'll be able to take with you to China or wherever.

    If you have the money, land is also a decent hedge, particularly if it can be productive.