The others have given technical details; so I'll just provide some basic logic that unfortunately doesn't get to a lot many folk.
[1] Live within your means. Whether your income, or even if it's a lump-sum amount of money, start imposing austerity guidelines in your life. Weed out the luxuries and the non-essential spends.
[2] Try to develop some skill that will be useful even in a jobs-squelching recession.
[3] Most important, stay healthy. Build up your health, because even more important during a recession: health is wealth.
[4] Build up your buffers of resilience through reading good books, literary stuff, and indulging in art and entertainment that is freely available.
Last, but not the least, when, God forbid, the recession does hit, remember: THIS TOO SHALL PASS!
STAY OPTIMISTIC Y'ALL, EVEN WHEN THE GOING GET'S DARK.
AND REMEMBER, IT'S DARKEST BEFORE DAWN!