A lot can be said about what can be done in order to avoid an outright recession. For the most part, we always wish for governments, corporations, banks and everyone in between to simply do better in order to avoid the downfall of our economy.

But sometimes it’s best not to put our hopes up on things that are out of our control, so if a dreaded recession does come along, it’s time for every household to look at how they can help keep their own finances afloat.

Here are key things you can do in order to protect your finances and wealth, so that even if you do take a hit, you can minimize the impact it will have on you in the long run.

Click NEXT to find out more crucial information on what you can do to shield yourself during a recession.