When the coronavirus hit the U.S. in March of 2020, it put a fast end to economic growth and sent the country spiraling into a recession. That's commonly defined as a period of two consecutive quarters of economic contraction.
Now, thanks to the vaccine, government stimulus spending, and surging demand, the U.S. economy appears to be growing rapidly and the summer of 2021 seems to be shaping up to be a recovery summer.
Still, for some people who haven't yet gotten back to work or seen their finances recover from last year's devastation, the recession may not be over yet. And if COVID-19 variants prove to become vaccine resistant or there's another surge in the virus when cold weather strikes, the economy could turn on a dime again.
Even if we aren't in a recession now and don't end up in one anytime soon, another period of economic downturn at some point is inevitable. That's why it can pay to recession-proof your finances now so you're ready.
Fortunately, these 15 tips will help you get through if the economy goes south again.
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