In tough times, Identify and prioritize crucial expenses like housing, food, and health care.
Create a realistic budget to manage your spending and cut unnecessary expenses.
Save money for unexpected expenses to provide a financial safety net during difficult times.
You are right about saving, but did you not just say bad economy, so in BE, we don't get to earn that much money that we can save some out of it? Even if we have to love hand to mouth, even sometimes we are short a lot of money as well. So, if we are not earning enough, then unnecessary expenses are a far thing we don't get to spend on necessary expenses. As we don't have any option but to live with what we have so we are automatically saving, haha, and don't have to do calculations on where to spend and where not to.
Explore additional income streams, such as freelancing or part-time work, to boost financial stability.
Enhance your skill set to stay competitive in the job market or explore new opportunities.
Connect with friends, colleagues, and professionals to discover potential job openings and gain valuable insights.
I like this thought of yours, and that's an obvious thing for a person, because if one job is not making him enough money then he/she would look for some extra work to manage the funds, bad economies are so tough on poor people. The best thing in the bad economy besides following these steps, or tips of yours, is if we have funds we should help each other, make friends, find friends that are good to you, that way your network will spread and in this era of internet, finding working friends is not a hard task, LinkedIN is the big source where you can find work easily.