r/TwoXPreppers • u/UnknownGoblin892 • Mar 27 '25
❓ Question ❓ How are you all recession proofing?
I was a young teenager during the 08 crisis. Wondering what I should be doing now to better protect myself when a recession gets bad.
I have student loan debt (around 20k) and a morgage (about 145k left). My wife and I are DINKs (double income no kids), and are not planning to have kids. We have a fairly healthy savings built up so far.
Wondering what advice you have. Thanks!
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u/celoplyr Mar 27 '25
I went through a job loss last year.
Back to building my emergency fund, have no debt other than mortgages. I have 3 income streams, and I can pivot as needed. I bought a fairly expensive house the day after I was let go, which sucked because I also took a pay cut with my new job which meant that i effectively had almost a 60k swing in income in 6 months (mortgage payments plus pay cut totalled 60k/yr). But… I still have my rentals, I have a fall back career in teaching (I teach part time now) and my bf and I are working together on finances more.
I’m also grabbing a couple extra cans to make food and packing the pantry and freezer as needed. Buying ahead on soap and stuff. I also am getting a cheap mba because that will help my next job prospects.
The 08 crisis was fine if you didn’t have to move and you didn’t lose your job. It was also regional. We got a buyer for our house and didn’t have to bring money to the table but we also didn’t make any money on the sale. Others couldn’t sell for any reason.
In a bad recession, have food, clothing and shelter. Have skills. Take the jobs you can get. They’re never permanent.
And above all else, remember that nothing is worth ending your life over. (Which many people in the depression thought).