With a stout emergency fund, you'll be ready for anything.

Key points

• To increase your emergency fund, try savings challenges that make saving money fun.
• If you get a tax refund, put most or all of it in your emergency savings.
• Cash back credit cards and coupon apps help you save more on your regular expenses.

Check out our pick for Best Cash Back Card of 2022

If you're concerned about a possible recession, you're not alone. Inflation, a volatile stock market, and high-profile bank collapses have many people worried that one could be on the way. A recession normally involves widespread layoffs, and it's always scary to think you may lose your job.

The best way to be prepared for a recession is to have enough money in your emergency fund. Experts have traditionally recommended saving enough money to cover at least three to six months of living expenses. Some go even further and recommend saving a year's worth.

Saving enough will give you more peace of mind, as you know you'll have money to pay your bills in the event of a job loss. If you want to boost your emergency fund and feel more secure in your finances, here are some easy ways to do it.

1. Do a savings challenge

If you have a hard time saving as much as you'd like, gamifying it is a great solution. Savings challenges have been getting more popular, and there are lots of fun options, including:

• A no-spend challenge: Only spend on necessities, and nothing else, for a set time period. A week is a good starting...

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