Most of us will still be in work in 12 months' time but, with predictions that three million people will be unemployed by the end of 2009, it's sensible to ask yourself what you'd do if you were one of the unlucky ones.
Advance planning could mean you'll cope better if the worst happens and will help you to ride out the recession even if your job survives.
Do a debt audit
That means knowing exactly what you owe and how much your debt is costing you. Write down everything you've borrowed, from the £100 your mum lent you when you needed unexpected repairs to the outstanding amount on each credit card, any loans and your mortgage. Don't forget your overdraft - it's a form of credit too and, if you exceed your limit without the bank's agreement, it can be expensive. By the end of this exercise you should know which debts are most expensive, so you can target them first.