How to Survive an Economic Recession (Episode 32)

Updated: December 9, 2021

Listen to Episode 32:

Summary of Episode 32:

What is GDP? What is a recession in layman’s terms? (1:08)

How does an economic recession affect ordinary citizens? (3:10)

Mentioned podcast episode: How to Cope with Losing Your Job (Episode 21)

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As history has shown time and again, the economy will eventually recover and the only question is when. (7:38)

How to survive a recession. (8:35)

The best way to survive through a recession is to create and follow a sound financial plan, and for us to work together in bringing our economy towards recovery. (14:16)

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  1. Fitz, once again you are preaching to the choir man. It is beginning to feel like lock downs will continue on into infinity but I also see some light at the end of the tunnel. These days, my wife does not have to search far wide on her designated day out for an ATM with cash and there have been no recent issues with stores accepting my foreign credit cards for purchases or withdrawals at ATMs. The Philippine government quickly learned that many of us EX-pats did NOT bail out at the first sign of trouble. We need access to our money to support families and help out our extended family. I was happy to see the ” ban” on foreign credit cards quickly end. The COVID crisis was certainly a very different animal to deal with. This too shall pass and I believe the Philippines will emerge both stronger and with increased wisdom from what we have all learned. I will state again that while I am sad for those who have suffered so badly I am also thankful for the new opportunities we have had opened to us.

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