A study by MyPerfectResume found that 81% of workers fear job loss in 2025. Which is understandable, as this would no doubt be a hit to their personal finances.

They’re not alone in their worries, either. Banking giant JP Morgan forecasts recession probability at 60% and the Commerce Department has already logged one quarter of shrinking GDP.

Here’s how should you prepare, if you worry that your job sits on the chopping block.

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It takes time to pull back on spending. Too many workers who lose their jobs keep spending at the same pace even when they don’t have income.

“With a pending recession, you want to cut spending early,” said Ashley Morgan, debt and bankruptcy attorney. “The lower you get your expenses, the more you can tolerate increased prices or loss in income.”

By slashing your living expenses now, you can funnel more money into savings and debt paydown.

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Less than half (49%) of Americans can cover three months of living expenses with savings, according to a survey by MarketWatch. But it can take many months or even years to find a new job, depending on your field and income.

While three-to-six months of living expenses make a good rule of thumb for emergency savings, Morgan recommended even more in times of uncertainty. “In a tight job market, you want six to 12 months of savings to tolerate a longer period of unemployment or underemployment,” she added.

It’s usually easier to keep your existing job than to get a new one. And that starts with making sure you’re creating far more value for your employer than you cost.

Brittany Truszkowski with Grand Canyon Law Group specializes in organizational development and streamlining for businesses. She said workers often fear getting fired but they haven’t asked for feedback in years. “Ask for an appointment with your supervisor. Ask ‘How am I doing?’ or ‘What should I be working on this quarter?’ Initiative-taking can keep you off the cut list,” Truszkowski explained.

The greater your skill set, the more value you can provide to both your current and future employers.

Most workers know it — and know they could use an upgrade. According to the MyPerfectResume study, 61% of workers have concrete plans to upskill this year and another 31% are considering it.

You’ve heard it before: the best time to get a job is when you already have one. Even if you lose your job before finding a new one, it helps to have a head start.