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. If you’re new to this condition, search for and use mutual aid programs in your area. Don’t wait until you’ve drained any resources you have. Get help as soon as you qualify, to stretch your own resilience. This isn’t selfish because “other people need it more” this is putting on your oxygen mask so you can keep fighting. If it turns out to be temporary, you can pay it forward.

For the rest of us, from the folks who can sometimes justify a lunch splurge, to those worried about stock prices, 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. (NOTE: we recommend NOT allowing AI to do this for you. There are some concerning stories.)
• 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 habituated to, but could change. Could you thrift some of your wardrobe? Pack lunch? Cook from scratch twice a week?
• Consider upcoming special expenses, like vacations and holidays. Choose a frugal pathway and prioritize practical gift-giving.
• Look for ways to invest in mutual aid, from carpools with neighbors to the local tool library.
• If you have any surplus, open a separate account at your local credit union and set up an automatic transfer. If you ever reach three months’ expenses, donate any further surplus to mutual aid efforts.

There are thousands of guides out there for smart financial decision making, and the approach you take will depend on your specific circumstances and also your personality. Now is the time to look at your finances and see if you have any room to prepare.