Recession is coming and we know it. In some places it is staring us right in the face. Unemployment, rising cost of living, increasing food prices, falling stocks etc are some of the negative effects associated with recession. Despite this seemingly bad news,
Warren Buffet said In short, bad news is an investors best friend. And another quote by someone goes thus "millionaires are made during a recession". I have been recently laid-off work due to the recent economic crisis in my country. I do not want to see this as a bad thing. So I ask what hidden opportunities does this recession offer? How can one take opportunity of the recession to become rich or at least not go broke?
Recession is a predictable thing, the people who can survive during a recession are those who have prepared themselves for it. the issue, a severe recession will occur next year, so preparing yourself from now on is a mandatory thing that everyone should do.
I'm sorry that you lost your job, but you have to be able to start something new or try to get a job that is less likely to be affected if a recession occurs, besides that, try so that you and your family can manage finances as well as possible.