Take these steps now to protect yourself from future financial hardship.
2025 has been off to a rocky start. Consumer confidence has plummeted thanks to persistent inflation, market volatility, and other challenges created by the new administration’s aggressive tariff policies. Now, we can add recession concerns to the list.
The U.S. economy contracted for the first time in three years as a surge in imports dragged down gross domestic product (GDP) while prices increased more than forecast. According to the Bureau of Economic Analysis, economic growth contracted at an estimated annualized rate of 0.3% during the first quarter of 2025 — more than the 0.2% decline expected by many economists.
Although the country is not in a recession yet, there’s a good chance it could be in the next few months. Taking some steps now can help you recession-proof your finances and protect yourself from financial hardship during an economic downturn.
Casey Bond | Yahoo Finance