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I'm worrying about the future for me and my young family.
Do you have any advice for someone with dependents during this time?
in theory isn't going into debt before the big crunch the best move with inflation?
in theory isn't going into debt before the big crunch the best move with inflation?
Make sure to have a small cash reserve so that you can manage for a while even if something devastating happens. Make sure to have a small stockpile of food at home so that you can make those money last longer. As a bonus, this will also count as basic prepping, and you'll be able to handle things like being snowed in for a week without too much problems (assuming you live where such a thing is possible).
Also cut down on non-mortage debt if possible, and make sure things like streaming subscriptions can be cancelled at a minute's notice; If you end up losing part or a lot of your income then you don't want to be stuck paying for things you don't really need (Spotify, Netflix etc).
Ask HN: What tips do you have for weathering a recession? - https://news.ycombinator.com/item?id=15798401 - Nov 2017 (104 comments)
Ask HN: How are you preparing yourself for a recession? - https://news.ycombinator.com/item?id=22527383 - Mar 2020 (148 comments)
If you think its coming, move your money to hedges. But people have been predicting the next big crash for the last 5 years to no avail, so don’t be surprised if you miss out on major gains.