Recession Checklist: 7 Things You Need to Survive an Economic Downturn

Last updated Oct 27, 2020 | By FinanceBuzz Editors
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The idea of living through a recession can be scary. Recessions can mean layoffs, foreclosures, and more. But, don't let fear paralyze you.

The best thing you can do is to face a recession head-on and actively prepare for whatever might come. Fortunately, there are a lot of simple ways to reduce debt, cut your bills, and insure against the unknowns.

Here are 7 things you can do now to prepare for a recession:

Save up to $500 on car insurance in Virginia

Car insurance can be expensive, so you want to make sure you're not overpaying on your current premium.

FinanceBuzz has made it easy to search and compare quotes. Think of it as Kayak, but for car insurance.

We can help match you to insurance carriers and regional agencies to help you save on your car insurance. FinanceBuzz can save drivers up to $500 per year compared to their current insurance premiums.

It takes less than 5 minutes to fill out the form and you'll receive a list of matches that show you online, email, and potentially phone quotes.

Click here to get started

Cut your monthly bills by up to $720 without making a call

Recessions are a time to buckle down and cut costs where you can. Truebill has helped save its members over $50,000,000 on their bills without much time and effort.

TrueBill will negotiate with your cable, cell phone, and internet providers to get you better rates for the same service. TrueBill also can help identify unused subscriptions you might be paying for and cancel them on your behalf. 

They work with all major providers - including Comcast/Xfinity, Verizon, AT&T, Time Warner, and DirecTV - so you can finally stick it to the cable company!

Open an account today and see how much you could be missing out on.

Sign up for Truebill here

Borrow up to $35k to finally crush your debt

If you're looking for a chunk of change to pay off debt, a personal loan could be a good option.

Our partner LoansUnder36 will match you with loan providers that fit your specific needs. Just fill out one application — there's no application fee and no minimum credit score to apply — to see multiple loan offers.1

Why not see if you qualify? If approved, you could receive your loan as soon as the next business day.

Get a loan offer here

Get a Personalized Health Insurance Quote (Even if You're Healthy)

Health insurance protects not only your physical well-being, but also your financial well-being. You never know when an unexpected health issue might come up and with a recession looming you don't want to be caught unprotected.

HealthInsurance.net is an online marketplace for insurance offering an easy application process and competitive rates for all ages and situations. They use a combination of intelligent technology and licensed agents to make sure you get a plan that matches your personal risks, resources, and preferences.

Get your quote now

Get paid even if you're too sick to work

A recession is no time to gamble with your paycheck. You depend on your paycheck for food, housing…pretty much everything.

If you get too sick or hurt to work, disability insurance can kick in to replace lost income. We're not just talking about something catastrophic like a heart attack - you could miss work because of a back injury, broken bone, or other common ailments.

Breeze is an online disability insurance company that makes getting disability insurance easy and affordable. Breeze is backed by Assurity, one of the highest-rated disability insurance companies in the U.S.

Get a quote in just seconds — no medical exam required — and coverage in under 15 minutes. Long term disability plans start at just $9 per month.

Get your quote now

  • Save up to $500 a year on your car insurance
  • Compare dozens of providers in under 5 minutes
  • Fast, free and easy way to shop for insurance
  • Quickly find the perfect rate for you

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FinanceBuzz Editors The editors at FinanceBuzz are a team of personal finance professionals dedicated to providing readers with accurate, helpful advice.