Biggest money mistakes in a recession; how to fix them – Wall Street Journal

Personal finance guide books are littered with rules of thumb aimed at helping us avoid money mistakes that can mean the difference between penury and comfort. This in-depth feature sets out the 30 biggest financial errors people everywhere around the world make when a financial shock plunges an economy into a downturn. With millions of jobs lost and businesses struggling for survival, these are scary times. But, as the Wall Street Journal guide points out, now is also a good time to get your plans in order to take advantage of opportunities to build your assets. You just need to look at the traders who took advantage of lower stock prices earlier this year and have been riding the wave upwards to see that. – Jackie Cameron

The biggest money mistakes people make in a recession

Many people are facing a situation they haven't had to deal with in a long time: an economic downturn. And they need help navigating it.

So we reached out to financial advisers, researchers, academics and other experts and asked them a simple question: What are some of the biggest mistakes people make in hard times, and how can they avoid them? After all, facing a downturn is hard enough without making it even worse by falling into common traps in the way you spend, invest and save.

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