With the United States officially entering a recession, it’s understandable if you’re starting to become more anxious about your finances. The current economic decline can make a sudden salary cut, job loss, or emergency expenses harder to deal with.

The good news is that there are steps you can take today that’ll help you veer off the path of financial ruin and survive the recession relatively unscathed. Here are some money tips from Sun Group Wealth Partners co-founder Winnie Sun to guide you through tough times.

Getting Organized

First things first, the financial adviser recommended people get their finances organized through the ‘stop, drop, and reassess’ method.

This means getting all of your financial statements together and then accounting for all your necessary expenses. Figure out how much and where your money is going.

Once you have all your necessities laid out, you can easily determine which expenses you can cut out of your budget when money becomes tight.

Build a Cash Reserve

Rawpixel/Shutterstock: Parents should add an extra three months’ worth of savings per child for their emergency fund

This next tip is something that you’ve probably heard many times before. Keeping at least six months’ worth of spending money to afford your living expenses is a financial advice that you should follow whether the economy is in a recession or not.

To calculate the amount of emergency cash you need to have on hand, Sun recommends that you track your monthly spending for four months and take the average. Multiply that number by six and the product is your final answer.

Learn to Negotiate

zimmytws/Shutterstock: Student loan borrowers were granted a six-month break on their monthly payments by Congress in March

Money may stop coming in but debt is something you still need to pay. Luckily, lenders might be more open to giving you some leeway when it comes to making your monthly payments.

After all, most of them would understand that many are struggling financially due to the overall effects of the coronavirus pandemic on the economy. Take advantage of this by trying to negotiate with your lender or credit provider about getting some flexibility on your payment terms or even a lower interest rate.

Continue Investing

Vitalii Vodolazskyi/Shutterstock: Investing during a recession entails finding ways you can consistently save in a slow and steady manner

If you’re one of the lucky ones who still have a steady income coming in every month, now is the time to be smarter about where your extra cash goes. It’s still recommended that you continue investing, especially in relation to your retirement.

Sun specifically advises people to increase their 401(k) contributions or invest their post-tax money in a Roth IRA. Doing the latter would allow you to deal to withdraw your contributions in the event of emergencies without penalties or taxes.