5 Inflation-Busting Tips To Survive The Coming Recession

Money Tips Daily by Charles Kelly, former IFA and author of

5 Inflation-Busting Tips To Survive The Coming Recession

Spring may be in the air, but the economy is still very much in winter!

Like the seasons, the economy and markets are subject to natural cycles. We have had a long upturn and bull market and now we are entering a downturn or bear market.

Inflation has reached a 40-year high, prices of everything going through the roof and a war causing a food a fuel crisis.

Stock markets have been falling from their recent highs, and the property market may have reached a peak as demand slows.

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Last week, hundreds of workers for P&O Ferries were fired without warning on Twitter and replaced by cheaper agency staff.

How would you cope if you lost your job?

Do you have sufficient savings to pay your bills?

How long will your savings last?

What will you do to survive and even thrive in this recession?

Here are my 5 inflation-busting tips:

1. Loyalty cards and money saving and rewards websites can save you thousands

2. Maximise your returns on savings and investments

3. Clear credit card debts as fast as you can or transfer to interest free offers

4. Abandon ‘brand loyalty’ for better deals on similar products and services

5. Get control of your finances and stop spending more than you earn

Winters are tough but they never last forever. Like the farmer who prepares for the next season’s work, now is the time get ready and come out even stronger when the recession ends.

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