6 Steps to Recession-Proof Your Finances

Create an emergency cash fund

Keep building your emergency fund in good times, because it is the buffer that will insulate you in a situation when the external financial factors are unfavorable.

When you have an unexpectedly large medical bill or an emergency car repair you can dip into your emergency fund during a recession rather than resort to an expensive personal loan. Keep your emergency cash in a savings account where you can access it immediately.