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With the chance of a recession recently hitting 100% in a recent report by Bloomberg, it’s going to be exceedingly important to navigate accordingly. There are going to be things you should do and things you shouldn’t do during a recession. In today’s video we’re going to tackle 5 things you should NOT do during a recession, so stick around! Free coaching sessions are back! ► https://www.vipfinancialed.com/free-c... Get your FREE Cash Flow Cruncher budgeting spreadsheet here: ► http://www.cashflowcruncher.com It's way more than just a budgeting spreadsheet! Manage your finances completely and easily with the Cash Flow Cruncher, our gift to you just for being a viewer of the channel! In an economic downturn or outright downturn, it is best to keep a tight rein on your spending and avoid taking excessive risks that can put your financial goals at risk. A downturn could take a toll on your personal finances, so being prepared and taking some simple steps to mitigate risk can help you survive the economic turbulence. The first thing you should not do during a recession is becoming a cosigner. In order to mitigate risk we’d recommend you’d consider other ways of helping a borrower, if you are able. The authorized user technique would be a much better way to help out a friend or family member. We’ve discussed the authorized user technique on the channel before: ► • GET AN 800 CREDIT SCORE IN 45 DAYS FOR 2025 Be sure to watch today's video to find out the other 4 things you should NOT do during a recession. Get one-on-one coaching with Matthew Pillmore: ► http://www.FreeCoachingCalendar.com Timestamps: 0:00 - Intro 0:52 - Cosigning 1:50 - ARMs 4:49 - New Debt 6:27 - Take Income For Granted 7:46 - Risky Investments Want more actionable financial tips and tricks like this one? Check out our YouTube channel here / vipfinancialed Much like Robert Kiyosaki, VIP is all about utilizing leverage (via Debt Weapons) to increase cash flow through investing in all types of things, from real estate to small businesses. VIP differs in their approach to the follow-through, utilizing some of the things Dave Ramsey teaches - optimizing your cash flow by decreasing expenses - however VIP differs there too. We are all about maintaining the lifestyle design YOU want, all while optimizing your expenses through creative approaches. We're all about the best of both worlds. Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe!! Make sure to check out our social channels for more insight and industry news! Facebook - / vipfinancialeducation Instagram - / vipfinancialed Instagram (Lifestyle) - / vipfinancialedlifestyle Twitter - / vipfinancialed LinkedIn - / vipfinancialed BBB A+ Rating - https://www.bbb.org/denver/business-r... Disclaimer and Waiver — VIP Enterprises, LLC, its owners, officers, directors, employees, subsidiaries, service providers, content providers and agents (referred to as "VIP Financial Education") are not financial or investment advisers and not licensed to sell securities or investments. None of the information provided is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, of any company, security, fund, or other offerings. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information contained herein is at your own risk and results always vary. The content is provided 'as is' and without warranties, either expressed or implied. VIP Enterprises does not promise or guarantee any income or particular result from your use of the information contained herein. Under no circumstances will VIP Enterprises be liable for any loss or damage caused by your reliance on the information contained herein. It is your responsibility to evaluate any information, opinion, advice or other content contained. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, or other content. Furthermore, from time to time VIP Enterprises may earn an affiliate commission when a viewer purchases a product, program, or service as a result of our content. #recession #housingmarketcrash #personalfinance