Anna Helhoski

And things like food prices are volatile, and there are a lot of factors that influence prices, so it's not clear what would happen during a recession. Is there anything people can do to prepare for a recession, and should they? Like death and taxes, there will always be another recession coming. It's inevitable. What we don't know is when the next one will hit.

So there are some ways to prepare your finances. Our first recommendation is to make a spending plan that reduces your must-haves, which will give you more wiggle room in the future, especially if bad economic times hit. And you need to reduce spending due to something like a job loss.

So there are some ways to prepare your finances. Our first recommendation is to make a spending plan that reduces your must-haves, which will give you more wiggle room in the future, especially if bad economic times hit. And you need to reduce spending due to something like a job loss.

So there are some ways to prepare your finances. Our first recommendation is to make a spending plan that reduces your must-haves, which will give you more wiggle room in the future, especially if bad economic times hit. And you need to reduce spending due to something like a job loss.

An emergency fund is also crucial to start building if you haven't already. That could mean finding ways to make extra money, putting away more money from your paycheck by increasing automatic transfers, and see if you can switch to a high-yield savings account. What you're trying to do is have a plan B waiting and ready to go if necessary.

An emergency fund is also crucial to start building if you haven't already. That could mean finding ways to make extra money, putting away more money from your paycheck by increasing automatic transfers, and see if you can switch to a high-yield savings account. What you're trying to do is have a plan B waiting and ready to go if necessary.

An emergency fund is also crucial to start building if you haven't already. That could mean finding ways to make extra money, putting away more money from your paycheck by increasing automatic transfers, and see if you can switch to a high-yield savings account. What you're trying to do is have a plan B waiting and ready to go if necessary.

You'll need to be able to meet your monthly expenses plus payoff debt.

You'll need to be able to meet your monthly expenses plus payoff debt.

You'll need to be able to meet your monthly expenses plus payoff debt.

You may need to lean on credit more to cover expenses if you don't have savings built up. So it's not a bad idea to set up access to additional credit that you can tap if you need to. Homeowners may be able to set up a home equity line of credit, or if you already have a HELOC, then try to replace it with one that has a higher limit.

You may need to lean on credit more to cover expenses if you don't have savings built up. So it's not a bad idea to set up access to additional credit that you can tap if you need to. Homeowners may be able to set up a home equity line of credit, or if you already have a HELOC, then try to replace it with one that has a higher limit.

You may need to lean on credit more to cover expenses if you don't have savings built up. So it's not a bad idea to set up access to additional credit that you can tap if you need to. Homeowners may be able to set up a home equity line of credit, or if you already have a HELOC, then try to replace it with one that has a higher limit.

Now, when it comes to investing, it's hard to see beyond market drops, but you can think about the long term. Don't look at the value of your portfolio every day. And remember that the market historically has been able to recover. And you should still devote what you can to retirement savings. It never hurts to be prepared. That's right.

Now, when it comes to investing, it's hard to see beyond market drops, but you can think about the long term. Don't look at the value of your portfolio every day. And remember that the market historically has been able to recover. And you should still devote what you can to retirement savings. It never hurts to be prepared. That's right.

Now, when it comes to investing, it's hard to see beyond market drops, but you can think about the long term. Don't look at the value of your portfolio every day. And remember that the market historically has been able to recover. And you should still devote what you can to retirement savings. It never hurts to be prepared. That's right.

Yeah, that's right. And the disconnect continues. So I'm joined by NerdWallet economist, Elizabeth Renter. Welcome back, Elizabeth.

Yeah, that's right. And the disconnect continues. So I'm joined by NerdWallet economist, Elizabeth Renter. Welcome back, Elizabeth.

Yeah, that's right. And the disconnect continues. So I'm joined by NerdWallet economist, Elizabeth Renter. Welcome back, Elizabeth.

So something we've talked about frequently is the disconnect between how people feel and what data says, especially when it comes to the economy. Can you give us an overview about how personal experience tends to shape perception about the economy and, in this case, our relationship with work?