> So the question to ask soon is how will you prepare for the post-recession recovery?
This bears repeating.*
If you're asking "how are you preparing for a recession," (1) it's too late, and (2) you don't—either your system is well designed and accommodates this, or it doesn't (echoing what others have said).
Yes indeed, it is too late to prepare for a recession when a recession is at the door. You have to have been preparing when times were good - by saving up the excess. Sure you can (and probably should) cut expenses now, but that's not going to get you through if you don't have a solid emergency fund already saved up.
This bears repeating.*
If you're asking "how are you preparing for a recession," (1) it's too late, and (2) you don't—either your system is well designed and accommodates this, or it doesn't (echoing what others have said).
*no pun intended, but probably should have been