Let's Talk... How to Prepare for a *Potential* Recession & Tips for Financial Anxiety
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- Опубликовано: 7 сен 2024
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Financial Feminist Podcast w/ Tori Dunlap: herfirst100k.c...
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I know this can be a sensitive topic for some people and I don't want anyone to feel like they HAVE to watch this video if it will cause them stress or anxiety. While I tried to keep it positive/upbeat I do know that talking about anything about finances can be stressful to some. I also just want to say that I am aware that I am CURRENTLY in what would be considered a 'financially privileged' position, yes I do work hard but I am very aware. Recessions can hit anyone, even those on social media as the majority of the income is coming from brand's marketing budget. The point of this video is not to provide more stress/anxiety or play the income comparison game but to hopefully provide simple tips and tricks to help prepare all of us for it.
It’s so reassuring to realize that someone who I see as financially successful also struggles with these thoughts/anxieties - this ish affects everyone!!
YES!! I have so much anxiety over all of this since my income is dependent on brands. It affects all of us in different ways!!
my husband and i also have adjusted what we purchase during our grocery runs; what helped the most to significantly reduce our grocery budget was to buy less meat. it helped so much to do this because the money we saved from cutting back our grocery budget, we threw onto gas. we both commute for work so doing this helped a lot! thanks carter for another great video!! ♥️
I appreciate you making this video SO MUCHHHH
This helps make it more attainable and "nomarlized". I've slowly started reworking my budget but now I have the motivation to really be more committed into what I spend.
Aw I'm so glad that it was helpful! You got this!!
Something that could help people if they have the time and space is to grow some of their own food. Some stuff you can grow in a small space I.e. tomatoes can be grown indoors or on a balcony
Yes I love this- and this is why I love when people share tips/tricks! I want to be better about growing some vegetables in our backyard but there's also some veggies I'm sure you could grow on a balcony!
This was a great video, Carter. Good job!❤
Thank u Carter, For this video!
This is an awesome video! Sitting down and criticizing your own monthly budget is such a big deal for me. Between Netflix, Disney, etc does add up quite fast! Are you working overtime?( if it's available) being a little harsh on yourself goes a long way.
Not anymore I don't! I have a corporate job and run my RUclips business fulltime- if anything I work too much lol! Gone are the days of working OT for me
You did a great job with this video! It was informative without being fear inducing & that's just really nice! :)
This makes me so happy to hear because I was so nervous posting it!!
Definitely start saving! The economy contracting will typically lead to budget cuts and layoffs. If you have the privilege of having extra disposable income during a recession, you can think of stocks being on sale and it is a great time to invest in index funds that will mirror the stock market like an S&P 500 fund or a total stock market fund.
Yes I like the way of looking at it that stocks are on sale too😂🤌🏻
This was a great video Carter! For me personally I’m always about living in the moment (passive) and I know I avoid thinking about big things (working on being more active) like this but the way you phrased things and how you change your mindset is so useful. I loved how relatable this video was in terms of not having to make huge drastic changes but making small changes in our day to day life. THANK YOU!!!
I am the same way and I don't think it's good or bad to be someone who lives in the moment OR thinks ahead. I'm so glad you enjoyed it!! i was so nervous to post it honestly and how it would be received. But the main takeaway like you said is small changes not huge ones!
i recently just made the switch from getting my nails done at the salon to doing them at home! it’s a small change but still saving a little bit extra
We are currently IN a technical recession - these tips are great!
I think it depends where you are! As someone in Canada we haven't been declared in a recession and only predict the Canadian economy is on track for a “mild recession” in 2023 (as per RBC). But the stock market is in a decline so you could say we are in one!
The USA is already like you said. Although they did just try to redefine what a recession is so may be delayed now...
@@TaylorHaselton right - we are in a full blown recession and the White House that led us here was like *can’t be a recession if we change the definition* 🙄
@@dyllannedeischer4758 yup.
I think it's important to evaluate your friendships and find allies. You never want to be around people who make you feel bad or put upon because you're streamlining your lifestyle preparing while they "drink up" all their money. Peer pressure, the Joneses is really well into a mature adult.
This is also a good point! Surround yourself with like minded people when it comes to finances and doing well in life overall🫶🏻
This is so helpful because I have so much financial anxiety myself. I just want financial freedom! This will help for the here and now.
Aw I'm so glad!!!
This is timely! Love the preparation mind-set that you have and sharing your ideas with us in these worrisome times!
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Thank you so so so so much dear for this tips because its truly truly helpful to me in my life you inspired me so so much and I wish you reach 70K Subscribers very very soon!💕✨☺️
You are so welcome!
Hope, prayers & resources for those who are NOT in a good financial position & CAN'T squeeze out another dollar...😐
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Thank you for talking about this topic. Your tips are very helpful. Learned a lot from this video! 🤓
Glad it was helpful!
Great video Carter! Thank you for always creating a safe space to bounce ideas off of each other ☺️
This comment made my day! That's exactly what I want my channel to be♥️
this was SOOOO good. Thank you Carter for this vid!!
Glad you enjoyed it!
loved being able to listen to this while doing school & fin. prep, thank you!
What is the article you've mentioned? About potential side hustles?
Loved the video - thanks for sharing such valuable info!
I don't have any articles specifically for side hustles but TikTOk has so many resources on that in my opinion!
Carter, thanks for the video - especially the advice for financial anxiety.
Of course, you're welcome!!
Love this so much, thank you for being so open about this! Also, the thumbnail is stunning ❤️
Thank you🥹♥️
Your amazing thank you for this 🙌🏽❤️🔥
You're so welcome!! 🥰
um thank u. i really don’t feel comfortable thinking about a possible recession. it gives me a lot of stress and anxiety. still love u tho
And that's also very valid and fair, if this video causes you anxiety or stress don't feel like you have to watch it! Sending you a hug xo
Such a great video!! Just got the budgeting spreadsheet and I love it! I also love the Financial Feminist podcast, Tori also has a financial feminist facebook group which is so nice!
Omg no way, I'm totally joining her FB group- thanks for sharing!!
I am loving your videos so much! I’m just mad I did not discover your little internet corner earlier 😂 but keep them coming Carter 🤗
Omg this comment, so sweet!!! Thank you♥️
I literally love your videos so much. Thank you!!!! 🤍
Glad you like them! This makes me so happy to hear!!
Thanks for making this video, lots of great tips!
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Don’t forget about libraries! They are great places to spend time for free and also act as a bit of a book store feel :)
Yes libraries are also a great thing! As I said in the video I think the key is mindful spending not restriction!
Thank you for this video!!
You are so welcome!
It would be awesome to see how you shop and prep your bulk meat!
Not much prep- we just divide up the raw meat and put it in ziploc bags and into the freezer it goes! We typically just get chicken boobs/thighs and ground beef!
Great tips and delivery!
Thank you♥️♥️
During a recession what employment opportunities are secure and which ones are in danger?
I don't feel comfortable answering that as every country/job field is going to be different, it really depends on the company!
Remember the stock market being down means that stocks are onsale
Haha yes I love this way of looking at it
Carter: "preparation for potential recession"
Me: "mentally prepared but my soul isn't yet"
😂😭
Thats fair, honestly same😂
The thumbnail 🤌🤌
HEHE thank you!!!
I’ve always been financially anxious. I’ve lived my life that way since I grew up so incredibly poor. I just always think I never want to live like that again so I hoard money
I'm the same, therapy helped me recognize that I was financially anxious and help shift my mindset!
First! 🤣🧡
Second!