Guest Article by Brittany Fisher, CPA ©2025

Image via Freepik

Recessions have a way of sneaking up slowly and then crashing in all at once, knocking over what seemed sturdy just months before. For many, it feels like the rules changed mid-game, and suddenly, survival takes priority over ambition. But amid the layoffs, price hikes, and uneasy forecasts, there are patterns—predictable behaviors in an unpredictable market—that can be read, understood, and acted upon. And for those who don't flinch, recessions become not only tests of endurance but also unexpected openings to create, recalibrate, and emerge sharper than before.

Recalibrate the Definition of Stability

When the economy slows, so does the illusion that one job, one plan, or one path will carry through untouched. Instead of chasing a return to how things were, it's smarter to redefine what stability looks like under new conditions. That might mean diversifying income streams, seeking roles that align more closely with durable industries, or even renegotiating existing expenses and obligations. The goal is less about maintaining the previous version of success and more about shaping a new, leaner form of resilience.

Watch the Edges, Not the Center

In downturns, big institutions often retreat, but on the periphery, smaller or emerging players move fast. That's where the future tends to quietly begin again. Niche markets, scrappy startups, and flexible freelancers often fill the gaps left behind by larger, slower organizations. Paying attention to where attention is shifting—what people suddenly need, what services disappear, what frustrations mount—can lead to smart pivots and unexpected collaborations.

Expand While Others Pause

Pursuing an online degree during a recession isn't just a backup plan—it's a forward move. These programs offer the flexibility to keep working full-time while steadily building skills that employers value, even in a tight job market. A business degree in particular opens doors in fields like accounting, communications, management, and organizational strategy, all of which remain relevant regardless of economic tides. Exploring the range of business degree choices available today can be the difference between treading water and charting a new course.

Cut, But With Strategy

The instinct during hard times is often to slash spending indiscriminately. But blanket cuts can do more damage than good, especially when they sever ties to things that generate long-term value. Instead, it helps to audit where money is flowing and identify which costs are ballast and which are sails. Canceling a low-return expense is wise. Scrapping something that fuels relationships, learning, or creativity? That's just shortsighted. Smart trimming focuses on clearing space, not hollowing out what still matters.

Build Your Circle Tighter and Smarter

Hard times reveal the shape of networks—who shows up, who vanishes, and who can weather storms together. Recessions have a way of exposing transactional relationships and elevating the ones rooted in real mutual support. Strengthening professional and personal circles can be a powerful buffer and an engine of new opportunities. Whether through collaboration, shared resources, or simple encouragement, connection becomes a kind of capital when traditional ones are scarce.

Accept That Uncertainty Isn't Always the Enemy

One of the hardest truths to absorb is that no one has the full map, especially during economic turmoil. That discomfort pushes people toward safe, familiar options, even when those options no longer work. But embracing a degree of uncertainty—treating it like weather instead of failure—can make risk feel less paralyzing. Trying new paths, offering imperfect solutions, testing ideas on a smaller scale—all become less frightening when uncertainty is seen not as a threat but as an open lane.

Recessions aren't a detour from “real life”—they are part of the cycle. They compress and stretch, distort and reveal, but they also reset the playing field. While the temptation is to hunker down and wait it out, history favors those who adapt in motion. The businesses launched, careers reinvented, and relationships forged during downturns often outlast the moment that created them. Thriving isn't about escaping the storm—it's about learning to build even while the ground shakes.

Unlock the secrets to maximizing your tax savings with expert insights from Mankus & Marchan, Ltd. and take control of your financial future today!