After a roller coaster of a week, the S&P 500 (^GSPC 9.52%) ended in a crash on Friday, after falling by more than 10% in just 24 hours. Many investors are understandably worried about what comes next, especially once businesses and consumers start seeing the impact of President Trump’s tariffs.

Some experts are warning that a recession may be on the horizon, with analysts at J.P. Morgan currently predicting a 60% chance of a recession by the end of the year — up from 40% before the tariff announcement.

These are scary times for many Americans, and while nobody knows what the future might hold for the stock market or the economy, there are a few steps you can take to protect your money as much as possible.

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1. Check on your emergency fund

It’s always wise to have some spare cash that’s easily accessible, but it’s even more important if a recession is looming. If stocks continue to sink, pulling your money out could result in steep losses.

While your portfolio has likely lost significant value in the last few weeks, you won’t technically lose any money unless you sell your stocks for less than you paid for them. If you face an unexpected expense or lose your job, you could end up losing a lot of money if you pull that cash from your investments while prices are sinking.

How much you should have in your emergency fund will depend on your overall financial situation, but a general rule of thumb is enough to cover three to six months’ worth of living expenses. This way, it will be easier to leave your investments alone until stocks start to recover — reducing the risk of losing money.

2. Unload any weak stocks now

One of the primary rules when investing in the stock market is to avoid panic-selling your investments when prices take a turn. That’s still true. However, if you happen to have any less-than-stellar stocks in your portfolio, now may be a good time to unload them.

Weak companies will have a harder time recovering from tough economic times, especially if we end up in a recession. Some of these stocks might not bounce back, so selling them now while prices are still relatively high could potentially save you money down the road.

To decide whether a company is worth holding or selling, examine its underlying business fundamentals. If it has weak financials, if its leadership team has a history of making poor decisions, or if the company is struggling to maintain a competitive advantage against its peers, those are signs it might struggle to pull through a recession.

In a similar vein, now could be a good time to consider shifting your portfolio toward more recession-resistant stocks and industries. “Recession-proof” stocks can still be hit during downturns, but if these companies provide services that are constantly in demand — like healthcare or utilities, for example — they could be more resistant to recessions compared to, say, consumer discretionary stocks.

3. Consider investing at a discount

Want to know one of Warren Buffett’s secrets to investing success? Buy stocks when the market is struggling.

“[I]n the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank,” he wrote in a 2008 article for The New York Times, at the height of the Great Recession. “In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.”

For long-term investors, market downturns and recessions are the best opportunities to buy stocks for cheap. The market has been exorbitantly expensive in recent years. While a market crash is not a good thing, necessarily, it can save you thousands of dollars over time by allowing you to invest at much lower prices.

Nobody knows where the market or economy will be in the coming months or years, but you can make the most of it with the right strategy. By taking steps now to protect your finances, you’ll be better positioned to ride out whatever storms may be on the horizon.