Coping with possible recession that may be coming...

Many are forecasting a recession and the possibility is high.
As always, my advice is to set aside funds for emergency. My funds were saved in FD accounts even though the interest rates in Singapore is very low, but it's easy to withdraw in case of emergency. The funds should be equivalent to a minimum of 8 months of your total expenses is advisable.
Relook and access your finances and reduce your debts, especially high-interest debts & credits from the credit card companies/banks and combined them into one to lowering the interest and easy management.
Spend and live within your means. That also means to cut down on luxuries and branded items you love, and less visits to posh restaurants.
Forseen stocks market's volatility and bearish during such time. Long term investments in companies that have proven track records that survived during past recessions are recommended.  
Diversify your investments; others might advise more than a dozen companies, but i supposed, depends on your financial abilities, a minimum of 8 companies/stocks in your portfolio are fine. Sharing abit of my personal favourites for long term investments which are ** $Berkshire Hathaway-B(BRK.B.US)$ $Merck & Co(MRK.US)$ $Johnson & Johnson(JNJ.US)$ $Apple(AAPL.US)$ $Colgate-Palmolive(CL.US)$ $Costco(COST.US)$ $The Kraft Heinz(KHC.US)$ $Microsoft(MSFT.US)$ $NVIDIA(NVDA.US)$ $Verizon(VZ.US)$ **However past performance is not indicative to future performance. Always do your due diligence when investing and invest at your own risk. Remember all investments have risks; please invest within your means and appetite.
Lastly, regular exercises to keep yourself healthy and eat healthily are atmost importance. Remember, Health is Wealth! 健康就是财富♡♡♡