Economists are sounding the alarm bells about a likely recession in 2023.Insider spoke to five personal finance experts to get their tips on preparing for a downturn.
Insider spoke to five personal finance experts to uncover the key steps to help you bulletproof your finances ahead of a rocky 2023.
Build an emergency fundThe experts advised building up an emergency fund to cover your expenses if you lose your job.
If you have the time, finding additional employment is the quickest way to bring in extra income, the experts said.
UpskillThe negative effects of a recession, like falling income and higher unemployment, may not become evident until some months into the downturn.