What does a recession tell you, steam has run out in the economy, or spending limits of the general house hold has been maxed out!?
Both?
Well, both and neither , it does come down to individual timing mostly, yes times will get hard for a lot more people than those that live the good life, this is always the case!
What we should be doing is monitoring and planning more, as long as you keep your eyes on your goals, and not get caught up in the News headwinds, you will survive.
What I know
Lessons from my life, I have lived through 4 recessions (although 1 I was too young to remember) 1980 recession after thatcher, 1992 after john major gambled on the market, the dotcom recession, this was caused by the actual market over gambling and the 08 crash, this was down to deregulation catching up with itself that lead to paper trading of value that held no true value (Ponzi scheme in the stock market)
Did it turn out for the better, yes, it helped me re-adapt, I wish I had money to take advantage of opportunities, but I am where I am!
What I have learn is not to rush, the rushing is the worse part, you get into the race to the bottom with everyone and then find out the depth of that total recession and while following all the noise, you headed to the pit with everyone.
If you focus on your needs, plan with your journal, know your goals, you will get out the other side, this is where taking time away from the noise helps also!
Taking the time to have your zone, set it up, write down your thoughts, see where your path it and make sure its right for you!
The bath bomb in the bath helps, get that space, cut out the noise, make sure your mind is clear and take action on what you write down.