Recession-proof your finances using these seven tips

HOUSTON - We continue to live in uncertain economic times. The cost of living has been rising, and the tariff war could make it worse. Could we see a recession? Are you concerned about a possible job loss or an income reduction?

Consumer finance expert Andrea Woroch offers seven ways to recession-proof your finances.

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Make your finances recession-proof

What they're saying:

• Set up a zero-based budget. You can use apps like You Need a Budget or PocketGuard to help you stick to it.

"It allows you to see and make a plan for every dollar you earn, whether it's debt repayment, savings goals, and every bill, so nothing is wasted," explained Woroch.

• Pause long-term goals to build an emergency fund to cover 3 to 6 months of expenses and keep it in a high-yield savings account.

"This means maybe you’re not contributing to your kids' college fund, maybe you’re reducing your retirement contributions, or pausing those debt repayments, so that you have more cash to put toward emergency savings," she said.

• Consolidate credit card debt using a balance transfer card of 0% APR or low interest.
• Cut your monthly bills.  You can do this by increasing insurance deductibles, cutting down your cell phone data plan, asking internet providers for available deals, and canceling subscriptions and streaming services.

"You can also access free streaming content from your local library, and stream it right from home. They have digital platforms set up for their members, get a library card, and that would cost you nothing," Woroch added.

• Adopt frugal shopping habits. Use money-saving apps like CouponCabin, or shop used for clothes and goods.

"I like shopping at stores like Dollar General. They offer a wide variety of affordable products. Download their app. You can look at their weekly circular where they offer thousands of products for one dollar or less," she said.

• Meal plan to save money and reduce waste.
• Add a second stream of income.

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Apps that can help you add a sidehustle

What you can do:

Here are some ideas Woroch suggested to add a second income stream:

• Offer your professional skills, such as accounting or bookkeeping, or office help. You can list your services on an app called UpWork.
• You can also offer services like tutoring, pet sitting, or yard work through an app called TaskRabbit.
• You can sell clothes and other things you don't need on reselling sites like Facebook Marketplace.
• You can also rent out things like your car when you're not using it on GetAround, or baby gear you're not using on BabyQuip.
• If you have a parking space you're not using, you can rent it out on SpotHero.