I have lived through two major ones already and i don't wish to experience another, but I know I will cope. The first was in the 1990s when the boom fell, and I had finished studying. It was a wake up call to all graduates who left when companies were closing down. All the job offers were off the table. It happened again a decade ago, where suddenly the good life was no more and discount retail shopping was acceptable and the norm. I have learned to live without certain things, and the latest generation probably don't understand how bad things can get. Savings don't always help, but they dwindle especially when you wait and hope that things will pick up. Sometimes they don't I have learned and you have to adapt. Are you mentally prepared?
I could live through it. I have lived through them before and always got through it. I didn't like it but I know how to get by without. Growing up I didn't have a whole lot and we learned how to survive. My mom and dad taught me many helpful hints when it comes to not living beyond your means. I am not a materialistic person and I need very little to get by in life and be happy. The latest generation may have a huge problem with that for sure!
People will have been through probably more than one recession in their lifetimes so I think to go through another one, will be a struggle, at the same time we will be more prepared and will know what actions we need to take to minimise the effect it will have.
By the grace of my parents I think I can but I don't think I'll be needing their help because I'm living a simple life as it is. I have very few possessions and practice meditation, minimalism and eat healthy fare. I'm not attached to my cellphones and gadgets and I've saved enough money to last a year on a humble life if I don't find work after a year then I'll start worrying. We struggle everyday but we can live through it because the earth is bountiful and people are generous, there's enough to go around.
Only if you have cash reserves. If you're cash poor, well, you'll have to take some decisions that may go south really fast. Ontopic, I'd definitely handle another crisis, mainly because I invest in bond funds and a couple of stocks that have not been hit to death by the 2008 financial crisis.
I've always been poor, and it's taught me a lot about how to budget money and live on very little amounts. I think I could very well deal with a recession and get through it perfectly fine. Then again, I'm sure that a lot of people think that and would be able to, so who really knows.
I think that a new recession would be something like the winter in Game of Thrones. The thing is, when a financial occurs, no one knows how hard it's going to hit and/or how long it's going to last. This is why it's recommended to also have cash reserves, but also a couple of assets that can bring money. If the shit hits the fan and you are cash poor, you're going to have a bad time.
I would do fine through another one having experienced one (unless I lost a job and couldn't get one back for a long time). Definitely would take advantage of the opportunity to invest...
Yes, cuz I don't hav any money now! I mean I think we are in a thinly disguised one now to be honest. Look at the cost of food. All this noise of raising the minimum wage isn't going to matter because costs are going to go up accordingly. It is the way of the world
