Does the looming recession have you ready to withdraw your money from the bank, dig a hole, and bury your money and head in the sand until someone gives the "all clear signal"? If so, you're not alone, but I NEED you to put down the shovel and tune into this episode of That Wasn't In My Textbook.
Recessions and economic downturns are a part of our history; whether we like it or not, we're knee-deep into one. But before you go into full panic mode, I bet your history teacher never told you that the best time to get rich is during a recession. When the world goes low- we go high (#Michelle Obama's advice is always on point).
Today's media is on a 24/7 rotation of financial doom and gloom, and the message reads... The recession is coming; you're all going to go broke!
But is that true?...
On this episode of That Wasn't In My Textbook, I'm interviewing financial planner Dominique Broadway, the founder of Finances Demystified. Dominique is an award-winning Millennial Personal Finance Expert. Her mission is to educate and assist you in reaching your financial goals.
In this episode, you'll learn:
- what a recession is
- how long it lasts,
- steps you can take TODAY to recession-proof your life.
Dominique also shares how we use this time to capitalize on the opportunity to build additional income streams or businesses.
Ready to learn how to weather any economic storm? Put down that boring textbook, grab your earbuds and get ready for another episode of That Wasn't In My Textbook. Don't forget to rate and review!
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[00:00:16]The history of recessions and the millionaires made during these tough economic times. Are we heading toward a recession, or are we already in one? Tune in as I give you a brief history of recessions.
[00:16:56] Do you think burying your head and your money under a mattress is the answer to coming out on top? If so, think again. Dominique shares what to do with your money to grow, build and protect your wealth.
[00:18:06] What are the tell-tell signs of a recession, and most importantly, what can we do to recession-proof our life? Dominique shares tips and strategies we can apply today to prepare for this recession and the next.
[00:25:28] Like everything else in life, economic downturns have a flow; here is how to identify the three stages of a recession, the signs that it's over, and what you SHOULD be focusing on NO matter what the economist says.
[00:26:23] Have you ever dreamed of launching your empire or making a few extra dollars? Now may be the best time to start. Dominique shares how a recession can be an opportunity to create additional income streams or even start a business.
[00:29:29] Lifestyles of the rich and famous, Listen as I share a few from rags to riches stories from past recessions. Will you be the next one?
[00:33:26] How to go from fear to faith during this financially trying time. Dominique Broadway provides tips and resources on maintaining a positive outlook while preparing for the worse.
[00:37:15] If Dominique could write a Chapter in our textbooks, what would our good sis tell us to demystify our finances? If you're anxious about an impending recession, or even if you're #unbothered, this episode has tips and resources for you.
About Dominique Broadway:
Dominique Broadway is a provocative financial literacy trailblazer on a mission to make wealth attainable for anyone. Her in-demand classes and accessible social media profiles have given Dominique a reputation as a personal finance expert who is engaging and makes complex financial topics, like investing, trendy and easy-to-understand. As an award-winning personal finance expert, speaker, and founder of Finances Demystified, she has a strong passion for working with young professionals, entrepreneurs, and people of all ages to bring their Dreams2Reality. Dominique's edgy and engaging financial advice has been highlighted on TIME, NextAdvisor, Yahoo!, USA Today, Refinery 29, Baltimore Sun, Black Enterprise, Marketwatch.com, Ebony Magazine, SmartCEO, U.S. News, and other media outlets. She was recently featured in Forbes and Business Insider.
Research by: drommamedia.com | Edited by: Keausha Bradley
Resources:
1. https://www.forbes.com/advisor/investing/what-is-a-recession/
2. https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
3. https://www.economist.com/finance-and-economics/2008/12/30/diagnosing-depression
4. https://www.everycrsreport.com/reports/R40052.html
5. https://www.cnbc.com/2011/07/21/recession-cnbc-explains.html
6. https://www.investopedia.com/terms/f/fiscalpolicy.asp
7. https://hbr.org/2019/05/how-to-survive-a-recession-and-thrive-afterward
8. https://en.wikipedia.org/wiki/Fiscal_policy
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EPISODE CREDITS:
Research and scripted by host Latoya Coleman (@ToyaFromHarlem).
Edited and Mixed by Chris Mann
Music Licensed through Epidemic Sound
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