A Recession May Be Coming: Here's Why You Shouldn't Panic

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Пікірлер: 317

  • @advancetotabletop5030
    @advancetotabletop5030 Жыл бұрын

    With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.

  • @Green-ed7wq

    @Green-ed7wq

    Жыл бұрын

    An uptick in volatility is not necessarily a bad thing, there are opportunities to be found even in this whirlwind. Best advice just get yourself a coach to guide you in this current market

  • @hobbs252

    @hobbs252

    Жыл бұрын

    Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $300k

  • @kozovski6628

    @kozovski6628

    Жыл бұрын

    @@hobbs252 I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging and I could really use some guide, but are they really that effective though?

  • @hobbs252

    @hobbs252

    Жыл бұрын

    @@kozovski6628 Donna Lorraine Judge is the coach that guides, you probably might've come across her before, she's quite known in her field, look-her up.

  • @whobeyou5342
    @whobeyou5342 Жыл бұрын

    There is nothing wrong with buying some extra canned and dry food goods. Labeling people who plan ahead for strange times as conspiracy theorists is so irritating. I agree Save your $1k emergency fund.- And Also put some extra food into storage. You're not "crazy"

  • @tonystone8584

    @tonystone8584

    Жыл бұрын

    I think it’s crazy. This happens every 10 years or so. 9/11, then housing crash 2008, pandemic. Tighten the belt.

  • @danieldaniel7724

    @danieldaniel7724

    Жыл бұрын

    Smart thing to do is garden

  • @whobeyou5342

    @whobeyou5342

    Жыл бұрын

    @@danieldaniel7724 absolutely. Gardening and canning are great practices for everyone

  • @farahfainz9876

    @farahfainz9876

    Жыл бұрын

    Gardening and canning. Agreed!

  • @mollyg4980

    @mollyg4980

    Жыл бұрын

    The funny thing is Rachel is a conspiracy theorist 🤣

  • @markstanich64
    @markstanich64 Жыл бұрын

    You are completely out of touch . The U.S.A. is in a full blown DEPRESSION

  • @socalsal627
    @socalsal627 Жыл бұрын

    I agree with sticking with the baby steps, but also that people should do some prepping such as storing food, household items, and developing skills and side hustles, to pair with efforts like paying off debt, etc. What we have had to do in my household is just go extreme austere -no movies, restaurants, expensive coffees, vacations. This will likely be a longer and deeper recession/depression since the Fed can't do anymore quantitative easing like it did after 2008.

  • @ThatGuy-mu2rr

    @ThatGuy-mu2rr

    Жыл бұрын

    I hope they do no QE. All that does is kick the can down the road, just to have a worse recession than the previous one.

  • @jfk1998
    @jfk1998 Жыл бұрын

    Don't stress just prepare. This is going to be a deep recession. Follow Dave's baby's steps.

  • @a.colleenfray2138
    @a.colleenfray2138 Жыл бұрын

    Recessions are only opportunities for the ones not in debt, and have much in savings!! Otherwise, you will be highly affected negatively by it 😣

  • @CaedenV

    @CaedenV

    Жыл бұрын

    Recessions are a fantastic time to stay in debt! Especially when inflation is high! Of course if you have unsecured debts with high interest rates, or just lost a job, or are fighting medical problems... well, then you should be prioritizing those things first. But assuming you are at a normal stage in life, and you have a positive cash-flow, with a reliable job, and have the worst of the high interest debts paid down... well... why on earth would you miss out on an opportunity like we are in right now? To be absolutely clear, I am not advocating to take on additional debt or anything, but paying extra on normal secured debts with a 2-6% interest rate right now seems crazy! For the sake of easy math, lets say you have a net $10k in positive cashflow this year. According to the Ramsey plan this $10k should be going towards your non-house debts, which would save you some $400-600 in interest payments. But if inflation is 8% and you are in need of a 'new to you' car or HVAC system, then buying that high dollar value item sooner rather than later is going to save you $800, which puts you ahead $200-400 compared to paying debts down. And on some items, inflation is more like 15% right now, which would put you even more ahead... but admittedly other items only have a high price due to availability, and like we saw with the GPU market this year the price can fall dramatically once supplies become more reliably in stock (pretty sure cars will be in this boat soon). More 'interesting' is on the investing side. When markets are down like they are, then we typically see a rise of 25%+ the following year, and 10% the year after (and if measured from the 'low' the returns are more extreme, this is just the calendar year average). So does it make more sense to save $400-600 in debt interest? Or pay the minimums and invest $10k a year the next 2 years instead? Put that into a pre-tax account like a 401k or HSA, and you can also save $2,000 on your taxes because that would be $10k of untaxable income. So over 2 years that would be saving $400-1200 in interest by paying debt down early, vs saving $4,000 in taxes AND making $4,750 in interest by investing that cashflow over 2 years. Recessions and corrections like this are normal, we can expect one every 7-9 years, but that means that you only get 6-8 of these events in your adult money-making life... Being counter-cyclical by pushing more into investments during these kinds of dips, and then deleveraging and saving during the end of the run to be ready for the next dip can put you years ahead each time it happens. It is no replacement for normal monthly retirement investing, but doing this on top of normal investing can help substantially over the years. Assuming you are not in a desperate situation, then now is the time to let those low interest debts ride along with their minimum payments, focus on investing, and then return to paying down debts with a vengeance in a few years.

  • @derekrank4572

    @derekrank4572

    Жыл бұрын

    people turning too petty crime already...doing things out of character because of fear .and anger..

  • @margaretkennedy5308

    @margaretkennedy5308

    Жыл бұрын

    So true

  • @goodehome
    @goodehome Жыл бұрын

    Rachel, I sooo needed this. I've been going down the rabbit hole lately with this topic and it's caused me to feel hopeless. Thank you for bringing me back into the real world of rationality.

  • @joonjonjew

    @joonjonjew

    Жыл бұрын

    @Freedom Family crypto is dead bro

  • @Joefest99
    @Joefest99 Жыл бұрын

    The difference is that this time we have business leaders meeting in Davos saying things publicly such as “the economy as you know it is over and there is no going back.”

  • @rabukan5842
    @rabukan5842 Жыл бұрын

    I'm in my 60's and have lived through recessions since the 1960's. It's cyclical and is not a problem if you are not heavily in debt, or have a decent job. In fact, it is a very good time to invest at bargain prices. This recession will be a bit more painful because of the high inflation, but it is, so far, half of what we had in the 70's, and yes, everyone got through it, and eventually did very well. Hold what you have, buy a little more, keep some cash on hand, and take a deep breath. It's a global thing, and it will pass.

  • @jeffkliewer537

    @jeffkliewer537

    Жыл бұрын

    Well said!!

  • @britneythao

    @britneythao

    Жыл бұрын

    @@jeffkliewer537 Thank you uncle. Your words made me feel much better. I've never experienced a recession before, I mean went through it as an adult. This is my first time.

  • @jeffkliewer537

    @jeffkliewer537

    Жыл бұрын

    @@britneythao it's extremely unlikely and even somewhat unhealthy for an economy to grow without ever contracting somewhat. And someone said in the comments that this is happening on accident. Well, it's generally not planned, but it's happening in part because the fed is raising rates to combat inflation. Which, while unpopular, is the right thing to do. A recession will help slow inflation. So it's not all bad.

  • @geoffreyschermerhorn9830

    @geoffreyschermerhorn9830

    Жыл бұрын

    Oh yes, your world will be shook to unfathomable belief. Good luck OP but this will not be what you think it is

  • @MikeyPaper

    @MikeyPaper

    Жыл бұрын

    @@geoffreyschermerhorn9830 doomer

  • @bridgettetraveler658
    @bridgettetraveler658 Жыл бұрын

    I have the man who knows it all! GOD hasn't given me the spirit of fear! Also he's given me common sense not to bite off more than I can chew!!!

  • @rayhill5767

    @rayhill5767

    Жыл бұрын

    He also gave you a brain in your head.

  • @bridgettetraveler658

    @bridgettetraveler658

    Жыл бұрын

    @@rayhill5767 that's where the common sense comes in!!!

  • @tifking73

    @tifking73

    Жыл бұрын

    Amen!

  • @rayhill5767

    @rayhill5767

    Жыл бұрын

    Mostly it’s all brain. Take that out and things don’t work so well.

  • @15KHPCLUB

    @15KHPCLUB

    Жыл бұрын

    Think you're invincible huh? Life can crush you real quick

  • @ter8330
    @ter8330 Жыл бұрын

    Hate to break it to you but we are a nation of CONSUMERS, not producers.. Strike one for this country and where we are at. Secondly, we are the most indebted nation in the world. Won't bode well for the U.S. moving forward, esp for those of us in debt!

  • @KennedyIvy

    @KennedyIvy

    Жыл бұрын

    We are a service economy. The US has developed past needing to produce it's own products. We can outsource to avoid pollution and higher costs in our country. U.S is in debt, but we use debt to invest in our country (giving free money to agriculture, tax cuts for businesses, and creating public sector jobs like the military)

  • @whatsup848

    @whatsup848

    Жыл бұрын

    @@KennedyIvy Easy to see where you are coming from.

  • @genxx2724

    @genxx2724

    Жыл бұрын

    @@KennedyIvy That didn’t go so well when China kept medical supplies we’d ordered. Then having goods stuck on container ships brought our economy to a standstill.

  • @KennedyIvy

    @KennedyIvy

    Жыл бұрын

    @@whatsup848 yeah, I'm never working in a factory. I'll keep my office job. The pay is better and less work.

  • @CaedenV

    @CaedenV

    Жыл бұрын

    Hate to break it to you, but we are not a consumer economy, we are a service economy. We provide services (patents, copywrite, support, leases, legal frameworks, assets, etc) that the world pays to borrow or utilize. If you have a thing you provide, but it is not consumed, then it is not a consumable good that you need to ship, or that you will ever run out of. It is quite literally the most sustainable economy type in the world. The only 'consumer' part of our economy that matters is that if we don't consume cheap imports then the USD will become too strong for anyone to afford the services that we export. A $10 streaming service is great and all... but when $10USD equates to a week's worth of income in another currency, then that 'cheap' streaming service becomes unsellable to most markets. That being said, automated manufacturing is bringing physical good production back to the US in a big way right now because our security and electricity prices are dirt cheap, and our patent policies are good for secure business transactions.... Granted, it will be automated, so a very limited number of jobs, but we are going to be the next China of cheap manufactured goods in the next 20 years... while also being the largest service economy in the world... and that is going to be really weird. If we produce the goods, and provide the services... I'm not too sure what that means for the world economy. Probably means a very strong dollar and the possibility of deflation though... which will have its own problems, but will be very good for Americans who own assets. But if we don't need to worry about importing goods because we can produce them here, then we don't need to worry about how strong the USD is either. Lets also not forget that we export a lot of cars, food, and tech. We aren't shipping cogs anymore, but our manufacturing is literally larger than ever... it is just a smaller percentage of the overall economy than ever because more effective and efficient parts of our economy grow faster than our manufacturing sector.

  • @fearless7424
    @fearless7424 Жыл бұрын

    I have been broke all my life. Just going to be broker.🤔

  • @corywest263
    @corywest263 Жыл бұрын

    Read your Bible! And be praying to the Lord our God 🙏

  • @mbfrommb3699

    @mbfrommb3699

    Жыл бұрын

    Yeah, it's sad to see that channels like this ignore God's Word on this. He has told us this was coming and what to do so we could understand and see Him move. So many will lose faith because they are terribly ill-equipped and blind.

  • @uniquemeek4532

    @uniquemeek4532

    Жыл бұрын

    Amen. Many people are so bothered with the troubles of the world and/or this country that they lose their faith in God. Don't they know that's what the devil wants.

  • @jesussaves4798

    @jesussaves4798

    Жыл бұрын

    Amen 🙏 only the Lord God Almighty can help us 🙏✝️

  • @mbfrommb3699

    @mbfrommb3699

    Жыл бұрын

    @@jesussaves4798 I'm sorry, I'm a bit confused at your reply. Just wondering is it a generic one or are you saying the Lord God Almighty can help us with the famines and food shortages, hyperinflation (Matthew 24:7, Rev 6:5-6), and world war (US v China over Taiwan) (Matthew 24:6-7, Rev 6:3-4, 7-8) He's sending us? Millions of Christians have brought the LORD's judgment on the earth because in 2020 Americans supported leaders that had satanic policies that defied God. So now the US is under judgment as God brings the nation to its end. (Joel 3:1-2) God warned us, many ignored it and now it's here. I'm just curious what you are expecting God to do? Just wondering. Fulfill His Word? Yep. Discipline those that disobeyed Him? Yep. Stop the collapse of Western society? Nope. There will be many who have a "strong faith" today who will fall away from the faith in the days to come. (2 Thess 2:3, 1 Timothy 4:1)

  • @bikiijemohiglituy6543

    @bikiijemohiglituy6543

    Жыл бұрын

    The world is going to get way worse according to the Bible.

  • @savingwithvane9093
    @savingwithvane9093 Жыл бұрын

    Yes loving this tips...I started cash envelope budgeting this January and have made changes and started using coupons more often and have been able to fund my emergency fund to 1,300 so far as well added Unexpected fun, Savings Fun...I'm budgeting for everything for Groceries, biweekly miscellaneous expenses, Family fun and other things...

  • @domingocavazos
    @domingocavazos Жыл бұрын

    Thank you for your comforting words at a time like this. 🙂 Much appreciated.

  • @stephaniedegange2737
    @stephaniedegange2737 Жыл бұрын

    thank you so very much, Rachel...very comforting

  • @yesiownfrodo
    @yesiownfrodo Жыл бұрын

    Here's the thing: when are we in a recession? When the price of a loaf of bread is almost equal to an hour of minimum wage. When employers are no longer hiring full time (so they do not have to pay benefits) and people cannot afford the GAS to go to multiple part time jobs. A side hustle is only a side hustle if it nets you an income. If it nets NOTHING (Uber, door dash, Instacart, pizza delivery) it's a waste of time and resources. The answer: buy consumables you HAVE to have anyway when they are on sale, pay off your highest interest rate debt first, and cut use of fuels (gas, electric, etc) as much as possible. Stop eating out and change your grocery store tactics. Make what you put in your grocery cart actual food and not all the other garbage like cans of icing and convenience foods. Stack your outings to get the most for your gasoline dollar. We're living in the days of Jimmy Carter all over again. When the housing bubble bursts, we'll really see it.

  • @MikeyPaper

    @MikeyPaper

    Жыл бұрын

    True words

  • @danieldaniel7724
    @danieldaniel7724 Жыл бұрын

    It’s called depression, if you don’t know how to garden ….

  • @teenat7044
    @teenat7044 Жыл бұрын

    Things people need to remember: food and oil are not included when calculating inflation. Oil/fuel will automatically raise the prices of EVERYTHING. Oil is still rising, so will everything else. Store some food while you can, just to have some extra on hand in case you get in a bind.

  • @alexandrapetre3009
    @alexandrapetre3009 Жыл бұрын

    Great content!

  • @rodrigofortis4013
    @rodrigofortis4013 Жыл бұрын

    I loss two houses in 2009 and im ok so don't panic.

  • @MR3DDev
    @MR3DDev Жыл бұрын

    No recessions are not part of the business cycles, is part of government interventions.

  • @ginnyberg9271
    @ginnyberg9271 Жыл бұрын

    I love how you explained this

  • @tatie7604
    @tatie7604 Жыл бұрын

    It is a Depression.

  • @montan-girl-loves-makeup
    @montan-girl-loves-makeup Жыл бұрын

    Thank you for this. There is so much doom and gloom that it makes a person's head spin!!! A clam voice of reason was much needed!!!

  • @YasinNabi
    @YasinNabi Жыл бұрын

    thanks for sharing. one of the best videos I have watched today.~~

  • @Bamapride1985
    @Bamapride1985 Жыл бұрын

    For the ones wanting to know what's the difference in a recession and depression? In a recession, your neighbor loses their job. In a depression, you lose your job.

  • @melodysmelody2809

    @melodysmelody2809

    Жыл бұрын

    You are so right, LOL,

  • @sconnell1791

    @sconnell1791

    Жыл бұрын

    Recovery is when we end the Fed.

  • @couchmayne4351

    @couchmayne4351

    Жыл бұрын

    So you’re just gonna keep stealing this comment? Get a personality first

  • @reconfirmingfaith7079
    @reconfirmingfaith7079 Жыл бұрын

    We are not heading towards a recession...we are facing a serious depression and have been in recession since 2008... we've been living in a false economic bubble since then which is about to implode...

  • @lambdamax
    @lambdamax Жыл бұрын

    Can we get an explanation of bond markets and inverted yield curves?

  • @lindaripp5902
    @lindaripp5902 Жыл бұрын

    Thanks

  • @becsterbrisbane6275
    @becsterbrisbane6275 Жыл бұрын

    Also- while you're doing your "State of the Union" of your finances, take some time to work out sinking funds for ALL your bills. It's a pain, may take some time & some sacrifice for a couple of months but soooooo worth it. And seriously look at what bills you can pay annually instead of monthly as it actually works out cheaper as the billers usually tap on some extra $ for the 'inconvenience'. Case in point- car insurance. Don't pay by the month, pay once annually. Then work out how many pay periods you have a year, then divvy up the cost of the insurance over the periods (ie I get paid fortnightly, so 26 pay periods a year). Works out cheaper, & now that interest rates are rising, you may even get a few extra $ from the bank for saving it up! And even if you decide to change insurance providers mid year- you still get back pro rata what you haven't used. Here in Australia you do at least. Hope this tip helps someone!

  • @Truthseeker371
    @Truthseeker371 Жыл бұрын

    Grow your own vegetables and herbs. Cut down on waste. Be physical and frugal.

  • @raftea219
    @raftea219 Жыл бұрын

    This time we might not bounce back as they destroyed the value of the dollar by printing it

  • @hopefulforhumanity5625

    @hopefulforhumanity5625

    Жыл бұрын

    It is possible to remove money.

  • @HoloHoloAdventures
    @HoloHoloAdventures Жыл бұрын

    Great information

  • @youtubechannelname102
    @youtubechannelname102 Жыл бұрын

    We should totally panic.

  • @RawVeganGinger

    @RawVeganGinger

    Жыл бұрын

    No, REVOLT. It's time for a REVOLUTION. I can't believe people are ok with being exploited and robbed. The power of the people is more powerful than the people in power. Everyone wants to panic but no one wants to get together and create change.

  • @derekrank4572

    @derekrank4572

    Жыл бұрын

    when people start doing neagtive things out of character that they would normally not do ...thats the time too panic

  • @genofromrenoprospector6940
    @genofromrenoprospector6940 Жыл бұрын

    We are already in a recession. Get ready for the depression.

  • @derekrank4572

    @derekrank4572

    Жыл бұрын

    and after the depression comes the rage ,anarchy .violence and crime...lets hope things get solved soon

  • @386Dart
    @386Dart Жыл бұрын

    I have followed Dave for years. It will be interesting to see how these videos and the advice and assumptions change over the next few months. There are a lot more unknowns with this downturn. And, we didn't have the level of air money in the system we have now. I think this one is going to break a few previously held beliefs about recessions, depressions and recoveries. We are in vastly new territory now than we were in those previous downturns. This one is largely intentional.

  • @floridanativelh568

    @floridanativelh568

    Жыл бұрын

    Great points. This one def is different. Globalists are at the helm.

  • @mandy7833

    @mandy7833

    Жыл бұрын

    You are exactly right and Dave is going to be proven wrong on this one. 😩 it going to be a depression not recession

  • @TJ-015

    @TJ-015

    Жыл бұрын

    Agreed. Savers will be losers during this recession. Uncle Dave is buying the dips and needs to at least tell both sides.

  • @386Dart

    @386Dart

    Жыл бұрын

    @@TJ-015 A downturn is good business for Ramsey I think. The more panic and desperation, the more people will look for advice to deal with it. And, Ramsey has a lot of great common sense advice, and a system around it which definitely helps people. I think his recent I told you so on the collapse of Bitcoin is likely to backfire, but time will tell.

  • @braddavid902
    @braddavid902 Жыл бұрын

    Rachel really explains topics well

  • @zaneece
    @zaneece Жыл бұрын

    I've been thinking of immigrating to Canada 🇨🇦

  • @KevinODonnelltelebanger
    @KevinODonnelltelebanger Жыл бұрын

    I don't know where you are getting your information from but, the economist are predicting a recession tsunami.

  • @gafee2001
    @gafee2001 Жыл бұрын

    You can literally be making more money because this is a recession coming up. This is part of the cycle, and is not necessarily a bad thing for individuals.

  • @ravindertalwar553
    @ravindertalwar553 Жыл бұрын

    Good morning mam I send you my Love and Blessings

  • @KeepItMowed
    @KeepItMowed Жыл бұрын

    Well auto loan delinquency is on the rise for used and new cars. Repos are rising and the auctions are now seeing them. Home foreclosures are now starting to happen. Unlike other recessions, the fuel cost alone is destroying every market. Hopefully you have a large amount of cash and no debt. This recession will not recover quickly as others. I see this being a long term recession, 2-3 years minimum. Be smart with your money and hold off new vehicle or used vehicle buys. Repair your car and hold tight.

  • @trevorpygeorge4632
    @trevorpygeorge4632 Жыл бұрын

    I love this

  • @Freespeech78
    @Freespeech78 Жыл бұрын

    I'm not sure how paying down debt works for those living pay check to paycheck.. and what about student loan debtors?? Where is the advice for those of us who are not as prepared? 🤔

  • @ajford76
    @ajford76 Жыл бұрын

    Might be worth mentioning the mass "printing" of dollars and wasteful spending/stealing of this money. This video will be hilarious in a few years if we can even get on the internet.

  • @anthonybrown5611
    @anthonybrown5611 Жыл бұрын

    Exactly and Dave said the same thing about 08 there’s videos everywhere

  • @kauigirl808
    @kauigirl808 Жыл бұрын

    Naw. We already in recession. Depression is coming.

  • @anointedanomaly3282
    @anointedanomaly3282 Жыл бұрын

    I feel like we need to actually educate ourselves on how to be more self sufficient instead of codependent on our Government. We need to learn crucial life skills like hunting, fishing, gardening, cooking, sanitation, raising animals, and carpentry

  • @madhatter9001
    @madhatter9001 Жыл бұрын

    The recession is not the problem, the problem is you won't have food to eat or gas for your car.

  • @kylemanship2628
    @kylemanship2628 Жыл бұрын

    It's sad because it didn't have to be this way....The guy in charge claims he doesn't even know how to lower the price of gas...

  • @leanneschultz4752
    @leanneschultz4752 Жыл бұрын

    I think it’s already here, people can’t afford food or gas.

  • @briannebarker6833
    @briannebarker6833 Жыл бұрын

    Hairs looking Amazing and healthy Rachel!!

  • @iguesi
    @iguesi Жыл бұрын

    If you lived in June, 1929 and you knew what was going to happen in October, 1929 what would you have done? That's what you should be doing now.

  • @trishragsdale8498
    @trishragsdale8498 Жыл бұрын

    Thank You So Much Rachel!! This was soo informative and easy to understand! I needed these tips! 😄🙏🏽

  • @brianoleson9224
    @brianoleson9224 Жыл бұрын

    this wasnt the kind of recession video i was looking for but it feels refreshing that there wasnt this cheerleading mentality that it cant be possibly bad ,because nobody knows

  • @christinerudd5623
    @christinerudd5623 Жыл бұрын

    Recession or correction ? We’ve been living on a money / crazy high over evaluated stocks for the last two years.

  • @luannkelly5071
    @luannkelly5071 Жыл бұрын

    I think we have been in recession I am concerned about a depression.

  • @15KHPCLUB

    @15KHPCLUB

    Жыл бұрын

    We entered a depression on January 20, 2021

  • @sarahb2731
    @sarahb2731 Жыл бұрын

    I just went to cash. When do we invest again ??? Just waiting is bad because inflation is high. thoughts?

  • @oatmealtruck7811
    @oatmealtruck7811 Жыл бұрын

    There’s a storm coming. If you prepare for it, you’ll have less damage. It doesn’t necessarily mean that you’ll be unscathed, but you’ll fare better than if the only thing you do is cry about it and hope for someone else to save you.

  • @derekrank4572

    @derekrank4572

    Жыл бұрын

    people will be helping themselves by force,if things get really bad and they are desperate enough.

  • @Venomscarf
    @Venomscarf Жыл бұрын

    You spent most of the video speaking and gave us the three tips at 5:42 with barely 2 min explanation. Can you please an indepth video about all those three points in detail?

  • @brittanys.7191
    @brittanys.7191 Жыл бұрын

    We will be needing a new family vehicle soon. With rising costs we don’t have much left over to put toward our car fund. We’ve always paid cash. It’s virtually taking everything we make to live. What do you recommend if you can’t increase your cash flow by taking on another job?

  • @clarisamarie104

    @clarisamarie104

    Жыл бұрын

    1) See what you can sell, if anything 2) Look over things like your car insurance. If you do have an emergency fund, maybe you don't have to have a $500 deductible in case of a crash. Bumping it up to $750 or $1000 will save you money. 3) Switch to non-name brand foods, shop with a list, and return bottles to the store. 4) Watch Rachel's video on reliable cars under $8,000 5) Do chores and things for neighbors and family members, mow grass, tend the garden, cook/clean, whatever will make a few extra bucks.

  • @HandleToWatch

    @HandleToWatch

    Жыл бұрын

    Agree with Clarisa. Sell, save, odd jobs here and there, reduce spending where you can. Don't go into debt.

  • @artymunoz5060
    @artymunoz5060 Жыл бұрын

    I believe that everything happening is biblical. Call me crazy. That’s fine. But everything that’s happening has been prophesied

  • @tonystone8584

    @tonystone8584

    Жыл бұрын

    C’mon that’s bs

  • @unfairsanic5089

    @unfairsanic5089

    Жыл бұрын

    Just focus on how are we going keep our head afloat and not the problem

  • @mbfrommb3699

    @mbfrommb3699

    Жыл бұрын

    @@tonystone8584 Hi Tony. What would it take for you to consider the idea if the claim "The Bible has told us this" is true?

  • @tonystone8584

    @tonystone8584

    Жыл бұрын

    @@mbfrommb3699 name one thing the Bible has prophesied?

  • @richardm5540
    @richardm5540 Жыл бұрын

    How do control gas prices ,groceries, baby formula, and medical bills?

  • @kristinecampbell5585
    @kristinecampbell5585 Жыл бұрын

    You are out of touch with reality. Are we in a recession?? Uh yes. We are on a crash course to a Depression.

  • @klayvonisme

    @klayvonisme

    Жыл бұрын

    Agree! They can sit cozy on their millions for some time. Ramsies can’t tell us the whole truth.

  • @johnaltobello5095
    @johnaltobello5095 Жыл бұрын

    It's already here.

  • @alexanderroberts8579
    @alexanderroberts8579 Жыл бұрын

    Every recession there was an inverted yield curve. But not all inverter yield curves lead to recession. It’s 50/50

  • @inglesd90
    @inglesd90 Жыл бұрын

    Recessions have been happening for thousands of years. Ancient China and ancient Rome had recessions, and every major economy between then and now too. It's nothing new or special and in the grand scope of things isn't a big deal. What recessions have always done was expose bad money management.

  • @ceasarcarrillo5891
    @ceasarcarrillo5891 Жыл бұрын

    Do you cut what you are putting in your 401 or do you keep it the same God bless America

  • @jln8186
    @jln8186 Жыл бұрын

    Also not mentioned but a real concern, without trying to get political, but a lot of grain, meat and eggs plants are being set on fire, not just here in the US but other countries too. Will this effect the econmony?

  • @mbfrommb3699

    @mbfrommb3699

    Жыл бұрын

    Yeah, it's part of the war that's begun.

  • @lynnebucher6537

    @lynnebucher6537

    Жыл бұрын

    Yes if production decreases by a large enough amount, and demand doesn't also drop, then prices go up and that affects the economy.

  • @phillipmoore6249
    @phillipmoore6249 Жыл бұрын

    1600$ rent. All time high gas. No kids, duel income. Impossible for young people to do anything

  • @15KHPCLUB

    @15KHPCLUB

    Жыл бұрын

    Not impossible, just very difficult

  • @joonjonjew

    @joonjonjew

    Жыл бұрын

    I’m working 2 jobs pushing almost 4k a month, don’t make excuses just make more money amigo.

  • @Me-kf4og
    @Me-kf4og Жыл бұрын

    I think is very intelligent… but please stock up on food and extra supplies. Yes we’ve had recessions before but this time is different. We have real food shortages and shortages of almost everything… please start prepping.

  • @brg2743
    @brg2743 Жыл бұрын

    Another good video!😊

  • @Joefest99
    @Joefest99 Жыл бұрын

    I’m scared!!!

  • @Authorthings
    @Authorthings Жыл бұрын

    Thoughts on heading into a depression in 2030? Granted, no one knows the future, but don't we see one every 100 years or so?

  • @smokinhalf
    @smokinhalf Жыл бұрын

    People call the preppers crazy well we will see who has the last laugh

  • @maryrobinson4572

    @maryrobinson4572

    Жыл бұрын

    Amen to that

  • @klayvonisme

    @klayvonisme

    Жыл бұрын

    Yes!

  • @debbieframpton3857

    @debbieframpton3857

    Жыл бұрын

    I've been a prepper for 40 years but I've always called myself a person that stocks up.

  • @derekrank4572
    @derekrank4572 Жыл бұрын

    things dont have to be this way....its just some people are refusing to co0operate and play the game of life properly. Greed is also a serious issue

  • @scottmarkel7037
    @scottmarkel7037 Жыл бұрын

    Thanks Rachel

  • @SayVeritatis
    @SayVeritatis Жыл бұрын

    When you are expecting hyperinflation is it not a good idea to have large fixed interest debt like home loan. Inflation will reduce the real value of the loan and it will be easy to pay it off later.

  • @kekejefferson9219
    @kekejefferson9219 Жыл бұрын

    Wow, Rachel got extensions!

  • @topezrosser2759
    @topezrosser2759 Жыл бұрын

    So we should continue to only have 1000 in starting emergency fund and follow Ramsy steps to continue paying down debt instead of saving a n emergency fund? This question is just clarification

  • @cjam3660
    @cjam3660 Жыл бұрын

    dump your credit cards and buy food instead

  • @trumoxie6210
    @trumoxie6210 Жыл бұрын

    Past 20 years have been a recession

  • @dayveeidson9747
    @dayveeidson9747 Жыл бұрын

    We have no Bill's live on and cook on our truck and its tuff.this women makes great money and doesnt suffer

  • @derekrank4572
    @derekrank4572 Жыл бұрын

    try living in poverty and not panic...alot of people have no clue how good their life is,

  • @BarbaraAnne55
    @BarbaraAnne55 Жыл бұрын

    I want to fire all of Etsy again.

  • @mr.nathan4972
    @mr.nathan4972 Жыл бұрын

    Grow a garden and learn to sew.

  • @susanneschmidt6159
    @susanneschmidt6159 Жыл бұрын

    MAYBE a recession?? Seriously....not maybe, Definitely!! and then Depression....

  • @15KHPCLUB
    @15KHPCLUB Жыл бұрын

    I'll save you guys 7 1/2 minutes... Have $200 Million and you'll be okay

  • @droptozro
    @droptozro Жыл бұрын

    Depression is coming. This is just the beginning and this isn't 1929.

  • @roberthuet4549
    @roberthuet4549Ай бұрын

    We already in economic recession since 2019, the next move will be depression and it will be here sooner than you expect it.

  • @BarbaraAnne55
    @BarbaraAnne55 Жыл бұрын

    Not that a recession is worrying you by the sound of things.

  • @ryansingleton1394
    @ryansingleton1394 Жыл бұрын

    Step 4 is a mystery…

  • @royrice6060
    @royrice6060 Жыл бұрын

    I disagree. Go ahead and panic. Make your life interesting. 🤯🤯🤯

  • @MsFred58
    @MsFred58 Жыл бұрын

    So we should panic due to no food on shelves,truckers quitting their jobs and Joe killing America.

  • @racheleisele
    @racheleisele Жыл бұрын

    Very educational video, thank you! My husband and I are planning a 5-year anniversary trip to Hawaii next May, would you advise against that if recessions last almost a year on average, or does it not matter if we're on baby step 4?

  • @tonystone8584

    @tonystone8584

    Жыл бұрын

    Go to Hawaii!!!

  • @HandleToWatch

    @HandleToWatch

    Жыл бұрын

    As long as you pay for the trip yourself and NOT go into debt for this trip, go to Hawaii!!

  • @mbfrommb3699

    @mbfrommb3699

    Жыл бұрын

    Do you want an honest answer?

  • @johnlanier3616

    @johnlanier3616

    Жыл бұрын

    Go and have fun

  • @klayvonisme

    @klayvonisme

    Жыл бұрын

    @@mbfrommb3699 yes please

  • @nataliehalliday4325
    @nataliehalliday4325 Жыл бұрын

    Thank you Rachel for your wisdom and taking the time to teach us. I finally will be getting vacation time in 2 months from my job and was planning going to Tennessee to visit the Ramsey Center but unfortunately this year I am not able to afford it. However, this is one of my goals so I am saving up for it for next year. Can’t wait to meet you one day.

  • @sadieesther9721
    @sadieesther9721 Жыл бұрын

    We’re already in a recession no cap

  • @TheBennik
    @TheBennik Жыл бұрын

    Too many people are not financially intelligent. A lot. And that affects the economy

  • @corywest263
    @corywest263 Жыл бұрын

    5:32 yes, 10 mtha is the "average" but we are not in an average situation. Countries are teaming up, many are looking to go to a new reserve currency and a new petrol dollar. Being unseated from the "queen of the world" will be the end for the US. We are going to see also "national emergencies" with "emergency powers" never used before.

  • @overflow1789

    @overflow1789

    Жыл бұрын

    "Countries are teaming up" - what countries?

  • @corywest263

    @corywest263

    Жыл бұрын

    @@overflow1789 I'm not a media outlet, so I am not going to give you a full run down - you should be studying and researching on your own to stay informed of the enemies workings - The most obvious - China and Russia recently made a "unconditional pact" to support one another and defend one another. Korea and China have been working together and now Korea is part of the Russia/China pact. India is strongly considering purchasing oil in Russian Ruble - pushing them to a stronger connection with Russia. Turkey is in connection with Russia and has offered to escort ships through the black sea to Russian ships past the straight. You have Cambodia secretly hosting the Chinese at an old US military base, converting it for Chinese use - meaning a stronger connection between Cambodia and Russia. Philipines has recently gone soft on China and is leaning towards friendlier relations with China - again, meaning a stronger connection bewteen Cambodia and Russia. Germany is on edge of siding with Riussia to maintain continued flow of resources (aka heating oil for the public) and in doing so, maintaining public health and happiness. Cananada has been recently hosting Chinese drills in Canada, stronger ties with China and Russia. China has been increasing ties all across Africa and South America - meaning stronger ties with Russia. So, I implore you to go forth and do your due diligence and verify all that I have told you. Cursory searches on the internet will easily discover all these news topics for your intellectual consumption. God bless you with eyes to see and ears to hear.