# Ways to buffer yourself now

By [PerlaHoffelmey1](https://paragraph.com/@romago) · 2022-08-01

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For homebuyers, relative to the crushing frustrations of the past few years, "it will be a much better experience," he noted. While it will become increasingly expensive to take out a mortgage as rates rise, buyers will face less competition for each property. And when it comes to deciding whether to put in an offer, "they may have a couple of days to think about it instead of hours," Fratantoni said.

### Ways to buffer yourself now

While you can't control the economic cycle, you can take some steps to mitigate the potential negative effects a recession might have on you.

**Secure your emergency cash:** For one-earner households, California-based certified financial planner Jamie Lima of Woodson Wealth Management recommends having 12 months of living expenses on hand in case you lose your job.

For dual-earner households he recommends six months, since it's less likely both earners will be laid off.

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*Originally published on [PerlaHoffelmey1](https://paragraph.com/@romago/ways-to-buffer-yourself-now)*