There are many everyday habits the average person can implement to ease the sting of a recession, or even make it so its effects aren't felt at all.

  1. Have an emergency fund - if you have plenty of cash lying around in a high-interest, Federal Deposit Insurance Corporation (FDIC)-insured account, not only will your money retain its full value in times of market turmoil, it will also be extremely liquid, giving you easy access to funds if you lose your job or are forced to take a pay cut.

  2. Live within your means - if you make it a habit to live within your means each and every day, you are less likely to go into debt when gas or food prices go up and more likely to adjust your spending in other areas to compensate.

  3. Have additional income - even if you have a great full-time job, it's not a bad idea to have a source of extra income on the side, whether it's some consulting work or selling collectibles on eBay.

  4. Invest for the long term - so what if a drop in the market brings your investments down 15%? If you don't sell, you won't lose anything.

  5. Be real about risk tolerance - yes, investing gurus say that people in certain age brackets should have their portfolios allocated a certain way, but if you can't sleep at night when your investments are down 15% for the year and the year isn't even over, you may need to change your asset allocation.

  6. Diversify your investments - if you don't have all of your money in one place, your paper losses should be mitigated, making it less difficult emotionally to ride out the dips in the market.

  7. Keep your credit score high - when credit markets tighten, if anyone is going to get approved for a mortgage, credit card or another type of loan, it will be those with excellent credit.

For a more in-depth discussion of how to recession-proof your life, read this article.