What even is a recession, and how can we prepare for one without spiraling? As a certified “Millennial who survived the Great Recession” and a financial therapist, I’ve got you. In this episode, I explain what a recession is (beyond just bad vibes), how they work, and how to take care of your emotional and financial well-being when the economy slows down.

Chapters

0:00 Recession

1:43 What is a Recession?

5:45 How to NOT Prepare for a Recession

15:07 Mental Health Tips

20:55 Financial Tips

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Want to boycott but not sure how? You don’t have to go all-in to make a difference. This boycott guide covers what a boycott is, how to participate, ways to effect change beyond a full boycott, and how to protect yourself from boycott burnout.

Corresponding blog: https://www.mindmoneybalance.com/blogandvideos/boycott-guide-vote-with-your-dollars

Resources referenced:

News Clips

https://youtu.be/rnQQ7TGobb4?si=rOT8s4sUzwbGFBfU&t=25

https://youtu.be/3rQcozbaWsg?si=_a1Eu1nFupnw8Fnb&t=118

https://www.youtube.com/watch?v=4P1yG2VPLVg

Sugar Boycott

https://www.bbc.co.uk/history/british/abolition/abolition_tools_gallery_07.shtml

Buy Canada Movement

Toronto Sun

https://torontosun.com/news/national/many-canadians-willing-to-ditch-u-s-travel-and-alcohol-but-not-streaming-services

https://www.youtube.com/watch?v=Sdb9gLnkpXY

Target Backlash

https://www.axios.com/2025/02/18/dei-consumers-shopping-politics-poll

https://www.cnn.com/2025/02/19/business/target-dei-boycott/index.html

https://www.cbsnews.com/minnesota/news/target-cofounder-daughters-dei-efforts-concerns/

Maurice Mitchell, “It’s a Relay Race,” on the Vibe Check Podcast

https://podcasts.apple.com/us/podcast/its-a-relay-race-featuring-maurice-mitchell/id1637476174?i=1000684645813

What New Year resolutions did you set at the beginning of the year? If improving your financial health was on your list, you’re in good company. “Improving financial health” was the second most common resolution for 2024, right behind physical health. But most resolutions don’t make it past February. And by “don’t make it,” I mean they quietly fade into the background as life takes over. Sound familiar? You’re not alone. Only about 6% of people stick with their resolutions all year.

As a financial therapist, I see this all the time—money goals aren’t just about numbers, they’re about behavior, emotions, and habits. That’s why rigid financial advice often fails and why tailored and sustainable shifts are the key to long-term success.

In this episode, I’m breaking down the three most common financial resolutions—paying down debt, spending less, and saving more—and giving you real, practical ways to make them work for you.