13 Steps to Recession-Proofing Your Finances

3. Build an Emergency Recession Fund

Most financial experts suggest putting aside three to six months' worth of expenses into savings. Holding onto so much money might seem like a daunting task, but when that rainy day finally comes, you won't be left without an umbrella. Recessions occur every 4.5 years on average and last about 18 months. Knowing this, it may help to set a timeline for your family's nest egg before the next economic downturn. Calculate how much time remains until the next predicted recession, and how much cash to put aside each month to achieve that goal. Even if you don't reach your goal before the next recession, your emergency fund will ease the strain.