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Lessons From Past Recessions

Success

The most recent recession was in 2020 and only lasted a couple of months, whereas the 2008 recession lasted about 18 months. How much debt do I have (credit cards, student loans, car loans, mortgages, etc.)? What is a recession? A recession is a period of economic downturn spread over time, usually a few months to a few years.

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16 Timeless Truths of Financial Freedom

Success

My new career was straight commission—zero salary. The “down” escalator is racking up debt on high-interest rate credit cards , going into debt to buy things you don’t need, taking out payday loans, and borrowing money to invest in things that can go down in value. That first year, I made $50,000. Photo by @AniaLu/Twenty20.