What are the precautionary measures that I should take in order to prepare for a recession?

1. invest in yourself (education)

2. support Your family/friends, donate (if for a good cause, that money is never lost)

3. think ultra-longterm as to investments, no change needed to the following thoughts:

https://seedly.sg/questions/what-is-your-genera...

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Being of value to your boss. If you're self-employed, being of value to your clients and customers.

On the practical side of things tho, yes, following Kenneth's lists is a really good idea. If a recession really do goes down, interest rates would tend to be lower, thus refinancing would be a good idea. Keeping cash is incredibly important.

One thing I would also like to add is relationships. During the recession, it'll be a blood bathe, people would be out of jobs, market would be crashing. But end of the day, what's most important is that we don't lose humanity. We don't lose hope. It's the most trying time where we see ones true colours. Priorisites relationship above everything else.