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How Can Young Canadians Prepare for a Potential Recession?

Source: The Canadian Press, CTV News, June 16, 2022

Personal finance experts say “recession-proofing” oneself right now is imperative.

TORONTO – “I’d be lying if I said a looming recession wasn’t worrying,” says Braveen Kumar, who is currently working on building his freelance business.

Amid soaring inflation and the Bank of Canada increasing interest rates more aggressively relative to past tightening cycles, concerns about a possible recession are growing. A lacklustre stock market is adding fuel to the fire, as market declines tend to happen before a recession strikes.

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