Recession Incoming?! Here’s What You Need To Know

Is a recession going to happen? This is what a lot of pundits are asking. We at Rand want to make sure you can hedge as best you can against market uncertainty. There is a lot of noise in the market, and many people are asking what can I do to be prepared.

In an uncertain world, it’s hard to know what to do with your invested money without taking unnecessary risks. We believe there is a better way to educate users about how to manage their money in a simple and profitable way.

We asked Pol, our founder, and his team what we can do to hedge for uncertainty in 2022:

  • Don’t panic. Although you may not have experienced a market downturn before, they are part of the economic cycle. What goes up must come down. When there is too much demand in the market and reduced supply, prices rise. This fuels inflation. As a result, interest rates will need to keep rising this year to tame inflation. If you can pay off or consolidate higher interest rate debts or loans, this is the time to do it to avoid paying more for longer down the road.
  • Know your expenses: Knowing what you actually spend each month can help you feel in control of your finances and help you plan better for the future. Where can you make savings each month?
  • Cash is King: Keep at least three months worth of expenses available to pay bills in an account you can access straight away. This way, you are prepared for whatever happens.
  • Save now for that rainy day. Automatically put money aside each month and make your money work harder by shopping around to make sure you are invested and earning while saving.

The future is unpredictable. We understand that you want to make your money work harder, but you also want peace of mind knowing your funds are secure and ready for withdrawal at any time.

Our mission is to forever change and democratize finance for all. Although we can’t control the wind, we can adjust our sails. Markets may go up and down, but at Rand, our values stay the same. We want to be the right financial partner for you, whatever the market brings.

About Rand

Rand is not a bank. It’s better. Rand is a simple digital wallet and debit card that reimagines the way you save, spend, send and earn money. Simply open an account, and earn up to 10% interest on the savings you move into your Rand Private Accounts. Or achieve your financial goals faster by moving your savings into Prize Accounts where you can win big every week without risking your money. If you don’t win, your initial investment stays put or can be withdrawn whenever suits you. It is that simple.

Rand Network is a new and exciting project that solves one of the most significant sources of stress for young adults and professionals, how to obtain a return on their capital. Rand was born from the passion and drive of CEO and founder, Pol Martin, to help his peers with the difficult financial circumstances faced by young adults. As a Generation Z, he has witnessed first-hand how some of his closest friends struggle to safely generate passive income or returns on their savings without extensive knowledge of financial instruments or markets. Rand is the result of his desire to offer young adults a chance to complement their financial savings, and to enhance their financial wealth.

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