Understanding Economic Recessions and Financial Preparedness

What economic prediction did the Atlanta Fed make for the first quarter of 2025?

• Unchanged growth rate

• Positive growth rate

• Negative growth rate

• Stable growth rate

What is one of the biggest mistakes people make with investments during a recession?

• Investing in real estate

• Buying more stocks

• Holding onto investments

• Selling investments at a loss

What economic condition involves low growth and rising prices?

• Deflation

• Inflation

• Hyperinflation

• Stagflation

How can an emergency fund help during a recession?

• By increasing credit score

• By reducing taxes

• By providing cash to avoid debt

• By increasing investment returns

Why is having a budget important during tough economic times?

• It reduces interest rates

• It helps increase income

• It allows for better financial planning

• It guarantees job security

What is a recommended action if you have high-interest loans that can't be deferred?

• Transfer them to a credit card

• Pay them down quickly

• Ignore them

• Increase the loan amount

What is a suggested way to cut back on expenses during a recession?

• Sell your car

• Cancel all subscriptions

• Stop buying groceries

• Choose between entertainment services

What should you do if you need financial assistance during a recession?

• Avoid asking for help

• Ignore financial problems

• Rely solely on credit cards

• Seek help from government programs and community

What is the worst thing you can do when facing financial difficulties?

• Stop thinking about money

• Seek financial advice

• Create a budget

• Look for additional income sources

What is the first step towards being prepared for a recession?

• Ignoring financial news

• Watching educational videos

• Spending more money

• Taking out loans