If the stock market is going down because of an economic recession, then it’s important to build up your cash reserves. Recessions are usually fairly brief, so it should only be a short time until the market recovers and the economy starts feeling stronger. In the meantime, reduce your spending on big-ticket items you can wait to buy. Finding less expensive vacation options, toning down gift giving and holiday expenses, shopping for sales on clothing, and using coupons at the grocery store are all good ways to reduce the extras so you can increase savings. It may sound simple, but don’t forget to put aside the money you save. Make a point of adding your savings to a money market or savings account instead of just leaving it in your checking account, where it will pose a spending temptation. Seeing the balance build in a separate account as you save will encourage you to save more.