Recession Prep 101: Practical Financial Tips for Today's Economy

Prepping for a recession? Experts recommend hoarding cash and learning new skills. Getty Images/ Jeffrey Hazelwood/ CNET It's not just a gut feeling. Prediction markets currently estimate a 62% chance of a recession in 2025, up more than 40 percentage points since the start of Trump 2.0. Over the past month, President Donald Trump’s chaotic tariff campaign has sent financial markets into a tailspin, trampling consumer confidence and fueling concerns of a significant economic slowdown. The downturn in real GDP in the first quarter of this year, data indicating a shrinking economy, will likely increase the panic, as will the surge in weekly jobless claims. Already, households are battling high prices, facing layoffs and watching their investments decline, which causes them to spend less. Businesses, unsure of where the markets are going, are cutting costs and delaying hiring. Financial uncertainty can become a self-fulfilling prophecy, said Shang Saavedra, founder and CEO of Save My ... Read full article.