No matter what the gross domestic product says, the recession isn’t over for you unless you’re gainfully employed and not mired in pay freezes or threatened with downsizing. But as the economy slowly recovers, you can use what you’ve learned during the economic downturn to strengthen yourself for whatever is coming next.

MSNBC compiles a list of lessons learned from the recession. The tried and true financial advice works in boom times as well as busts:

*Buy with funds you have rather than those you’ve borrowed. Unnecessarily leveraging yourself is a way to invite financial ruin if expected income falls through.

*Stockpile savings. If the worst-case scenario arrives, you can’t have too much money sitting in the bank. It’s tough to sit on large sums of money rather than investing them aggressively or spending them on dream vacations, but discretion can pay off.

*Set and stick to a budget. Deviations and unforeseen expenses will happen, but if you set a plan in place and stick to it as closely as possible, you’ll be better equipped to survive a downturn than those who spend according to their whims.

What did you learn from the recession?

Lessons learned from the recession [MSNBC via Budgets Are Sexy]

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.