CNBC pointed out that annual inflation reached a 40-year high in earlier this year, leading the Federal Reserve to raise its benchmark rate by half a percentage point. This is the biggest jump we’ve seen since the 2000s.

What that means for us? Everything is more expensive and that could lead to a major recession. As scary as that is, there’s light at the end of the tunnel, according to experts. Here are a few tips you can utilize to prep yourself for what our economy has in store.

Be careful with your cash reserves.

This may sound like common sense but it bears repeating that saving money is impertive in the face of a looming recession, especially if you’re looking at a major life stage. As CNBC points out,  aspiring retirees need a cash cushion substantial risks.

If possible, refrain from tapping into tapping nest eggs during of uncertainty, such as a significant cash buffer or a home equity line of credit. Conversely, investors should devise a plan as well.

Cassandra Cummings, an investment advisor and founder of financial empowerment brand Stocks and Stilettos says that “novice investors should remain calm and adopt a long-term perspective. After a historic bull run with the stock market and consistent economic growth, high inflationary pressure may cause consumer spending to decline, therefore sending the economy into a recession.”

Buy low and keep buying.

Cummings said that “the stock market is on sale during a recession, meaning you should buy large, dividend-paying and growth-oriented companies with a track record of sustainability of short-term volatility during economic stress. With Dollar Cost Averaging, you will buy shares when they are lower and able to purchase more during the downturn.”

Look into into investing in recession-proof companies.

Cummings advises investors to add consumer staple, dividend-paying companies to your portfolio such as food, beverages, toiletries, and household items that make the list.

“These companies typically outperform others because the goods and services they provide for consumers are always in demand.”

Consider purchasing a gold ETF.

Investopedia describes an ETF as an exchange-traded fund (ETF) as a type of pooled investment security that operates much like a mutual fund. Cummings said that “purchasing gold in anticipation of a recession is another possibility. Gold and other precious metals tend to rise in price due to demand from investors looking for safety during an economic decline.”

Ultimately, with a bit of planning and faith, we will all get through what’s to come in our tumultuous economy.