Are we in a recession? Are we headed for a recession? No one knows for certain, but you can never be too prepared for an economic downturn. Are you saving money? Do you have a plan in the event you lose your job? In today’s episode, we’ll help prepare you for anything that might be thrown your way!Welcome back to the BiggerPockets Money podcast! Amidst economic uncertainty, there are two steps you must take to weather tough times: build an emergency fund and brace for a potential layoff. Today, Mindy and guest co-host Amanda Wolfe are bringing you their best money tips for getting through a recession. First, they’ll show you how to pad your emergency fund by saving hundreds on groceries each month, negotiating your bills, and eliminating unnecessary expenses from your budget. Believe it or not, it might even be time to cut back on aggressive debt paydown or extra 401(k) contributions!Next, they’ll help you with a potential job search. You’ll learn how to get your resume seen by more employers and determine your market pay rate. But that’s not all. Stick around until the end to learn why staying with your current company—regardless of whether your job is at risk—could cost you millions of dollars over your lifetime!In This Episode We CoverHow to get your financial house in order before an economic declineCalculating how much money YOU need for an emergency fundHow to slash your food bill by hundreds of dollars per monthThe BEST places to find money and bolster your savingsHow to start preparing for a new job today (before you lose it!)When to cut back on “extra” payments and retirement contributionsWhy staying at your current job might be costing you millions of dollarsAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupNetwork with Other Investors on The Path to FIRE Through the BiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott on BiggePocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Find an Investor-Friendly Agent in Your AreaFind Investor-Friendly LendersProperty Manager FinderTry Amanda’s Free Emergency Fund CalculatorConnect with Amanda on InstagramEnjoy Ebooks and Audiobooks with LibbyEnjoy Ebooks and Audiobooks with HooplaCheck Out Market Pay Rates with GlassdoorSee Mindy at BPCON2024 in Cancun!BiggerPockets Money - Episode 110: Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life00:00 Intro02:19 Building Your 11:31 Slashing Your Grocery Bill17:22 Negotiating Bills & Auditing Purchases27:56 The “No-Spend” Challenge33:52 Preparing for a New Job42:53 Send Us Your Money Tips!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-548Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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