I just have a small question. What is a recession? I saw this on this subreddit and wanted to know more about it. Specifically, the thread said that a recession is expected in a near future.
Google defined it as a general decline in economic activity. However, as a 20-year-old who did not experience a recession, I am not exactly sure how it would affect people apart from having more trouble finding jobs?
Also, to prepare for a recession, we need a cash flow. Is having savings in a bank account? Or do we need actual cash readily available (in notes)? My dad has been saying that it is possible for banks to go down under & it may be harder for us to take money out from banks, etc., so it would be good to have some cash in hand. Is this true?
Submitted April 24, 2019 at 11:14AM by mintkandy http://bit.ly/2W1uuTX
