How to do it:

This is a deeply personal action item. Some of us are living hand-to-mouth and have no fiscal flexibility. You’re already doing what you can, and I’m truly sorry it’s getting even harder.

For the rest of us, from the folks who can sometimes justify a lunch splurge, to those worried about a stock market crash, it’s time to get serious about economic resilience. That’s going to look different for each and every one of us, but here are a few starting places:

• Comb through your banking for subscriptions you aren’t using. Those might be rollovers from the free trial you forgot to cancel, or things you used to value but could give up.
• Look for things you could do more cheaply, without sacrificing value. Could you buy basics in bulk at Costco? Would the gas discount cover the annual membership?
• Look for optional expenses you’re used to. Could you thrift some of your wardrobe? Pack lunch?
• Consider upcoming special expenses, like vacations or the holidays. Can you adjust them to create a pad?

These are just examples — there are thousands of guides out there for smart financial decision making, and I’m no expert. I do know it’s starting to look like a 1930’s style great depression is possible. Now is the time to look at your finances and see if you have any room to prepare.

If you are currently making ends meet, open a separate savings account with your credit union and shift any savings you find there. Guard that rainy day fund. If the worst doesn’t happen, you can donate or spend it in celebration after the threat passes.