A financial planner says there are 4 things to focus on if you're worried about a recession, and none of them is your portfolio

• About half of Americans think a recession is imminent, according to a recent survey from MetLife.
• Instead of scrambling to time the market, it's smarter to focus on the things you can control, writes financial planner Eric Roberge in an article published by Kiplinger.
• Roberge says it's as good a time as any to cut down your expenses, pay off debt, avoid big purchases you can barely afford, and develop your skills.
• Read more personal finance coverage.

Over half of America fears a recession is imminent, according to a recent MetLife survey.

It's common for investors to panic when there's speculation about markets going down. But when panic leads to impulsive and emotional decision-making - such as selling off all your investments or trying to time the market - you may stand to lose even more, writes certified financial planner Eric Roberge in an article published by Kiplinger.

"This is one of the worst, most expensive and damaging mistakes you can make with your investment portfolio. Which is a shame, considering it's so easy to avoid: Stay in your seat," Roberge writes. "Don't try to time the market. Stay the course and stick to your strategy, because now is not the time to start tinkering with your portfolio."

Roberge says average investors who are worried about a recession are much better off focusing on the aspects of their money that they can control, including managing their cash flow, paying down debt, and developing their marketable job skills.

1. Cut down your expenses

"If you're truly scared of a recession, pull out your budget and start trimming costs now," Roberge writes. In other words, channel your fear into positive action. The money you're saving can go straight into your emergency fund, he says, which could be kept in a high-yield savings account where there's zero market risk and even opportunity for growth.

No matter what shape the markets are in, it's crucial to have an emergency fund. After all, a huge medical bill or temporary lapse in income can happen at any time. Arming yourself with a cash safety net is your first line of defense against debt.

2. Pay off your high-interest debt

If you do have high-interest debt, now is the perfect time to "start attacking it aggressively," Roberge writes.

High-interest debt includes credit-card debt and some personal loans - basically, anything with an interest rate above 7% or 8%, which is close to the return you could be earning on your money if it were invested instead.

One strategy for paying off debt fast that's often recommended by experts is the debt avalanche method. The idea is to continue paying the minimum on every balance, on time, but put any extra money toward balances with the highest APR first.

3. Put off big purchases 

"If you strongly believe that a recession is around the corner, hold off on buying that boat or upgrading to the big house that will push your cash flow to the limit," Roberge writes. You can still work toward making those big purchases, but make sure you have enough saved and aren't stretching yourself too thin, he says.

"This might help you feel less threatened by the idea of a recession, and it will just leave you with more cash available to make a big or luxury spend in a year or two once you feel more confident about the economic climate," Roberge writes.

Lauren Anastasio, a certified financial planner at personal-finance company SoFi, agrees. Prices on goods and the cost of borrowing money may be lower before and during a recession, but that doesn't mean it's time to throw down money, she told Business Insider. Your income may also decrease when economic turmoil strikes, making it even harder to rebound from a big purchase or to repay a loan.

4. Polish your résumé

Unemployment is low right now, but there's a chance your job could be at stake if a recession does strike. It's a good time to focus on developing job-related skills and polishing your résumé to make sure you're prepared for whatever comes your way, Roberge writes. 

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