We heard the warnings, saw the slump is sales, housing, and employment and witnessed the rise of gas prices. Now it is here, and for some people it isn't pretty. That's right folks, I'm going to say it: recession.

Most of us are sick to death of hearing about the recession and are unsure what it will mean for us and our families in the immediate future. The worst thing is that every political analyst has a different opinion and, if you are like me, you often don't know where to turn.

Luckily, there are so easy steps we can all take on a daily basis to help insulate ourselves (at least a little) from the dreaded R word, and any fall out that occurs because of it. Here are five suggestions on how you can take small steps to deal with what a recession means in your life:

•1) Pay Off As Much Debt Now As Is Reasonable

I will be the first one to admit that I hate advice like this, especially since when I am worried about cash the last thing I want to do is pay down more of my debt. It seems counterintuitive: the term recession makes people want to save so that they have money shored up, not eliminate their debt.

However, you need to look at it like this: how do you feel paying high interest payments on debt now? How will you feel if money gets even tighter and you still are paying a huge amount in interest? Not good, I can assure you. Interest payments are basically money wasted when you have the means, if not the will, to pay it off. Also, should things get really bad, you will feel better using your lines of credit in a jam if they are moderately cleared instead of almost maxed out.

Personally, I like to employ the fifty-fifty rule: out of the designated income that can go to savings or debt payment, I split it down the middle. For example, if I have $1,000 in funds I can save or pay debt with, I will put $500 in savings and $500 toward debt payment. While the first few split payments can be frustrating, as you continue the practice it becomes more rewarding to see your debt and savings move equally in opposite, and positive directions. This will also grant piece of financial mind: try it!

•2) Make a bit more (on the side)

We are lucky to live in a era when the internet provides so many on-the-side money making options at the tips of our fingers! There are countless options available online to make a little extra money, from paid blog positions, to site editors, to article content providers (like we do here at hubpages!). If you haven't enrolled in the affiliate programs here, you definitely should. Otherwise, look for some freelance gigs around the internet in your niche. Check out the site How to Find Freelance Jobs for more ideas, and other similar sites.

•3) Happy-Meal Size Your Life

You remember a few years ago when the big phrase was, "Super-size your life?" Think the opposite. These days, bigger isn't better: look at the sad fate of the SUV and the hummer. Look how large houses that have lots of space to heat aren't selling. Wherever possible, cut your corners and try to cut out unnecessary everything: unnecessary space, baggage, commuting time, etc. This is one area you can literally go crazy in.

Most of us want bigger and better not because we really want it, but because we have be trained by society and the media to think we want it. Think about food: we always want restaurants to give us huge portions, but how much do we actually eat? And you would be surprised the number of people that don't take their leftovers home.

Do you need a huge latte in the morning? Try having a small and see how you feel. Do you need that shirt in five different colors? Chances are you will only wear your three favorite. Do you need a new cell phone or gadget every season? How about new expensive shoes?

Space makes waste, and these days you are paying for every wasted bit of space you own. Look at your life and try to happy-meal size it, I would be willing to bet you could be happy with a third less than you have now in most areas, and bank the money you would have spent on the difference (or use it to pay off your debt!).

•4) Carpool, Bike, or Try Public Transportation

I won't even go into a gas price discussion with you, it is just too painful. We all know what it is looking like, and we all know there are a few easy changes we can make to use less gas. Aside from everyone buying a hybrid, we can share rides, take the train, or get on an old fashioned bicycle. My favorite non-gas powered means of transportation? My own two legs. I can walk for a reason, and love the feeling of making the mile down-mile back trek to the stop and shop on foot. You've got to look at it that every change in the amount you spend on life now, ie not paying for gas, is more money you get to keep. That is how you handle a recession!

•5) Keep a Positive Frame of Mind

As much as we don't like to admit it, recession is just a part of the economic cycle. Sometimes we have booms, then they recede, then they boom again, then they recede. All you have to do is look at the past forty years of American economics to appreciate that. We won't be in a recession forever, and someday things will pick back up and we will all complain about this period to our grandchildren who roll their eyes and say, "OK Grandma, we already heard that one."

In fact, this recession could actually be a blessing in disguise: it can be a way to purge our lives of frivolity and "stuff" and replace them with thrift, ingenuity, and more options for ourselves. Teach a man to fish...well now is time to start fishing!

Bottom line: things are tight now, but each of us have small changes we can make in our own lives that have the power to cushion the blow of recession for us and ours. They aren't necessarily easy things, or comfortable things. But we aren't out of options yet, we aren't hopeless. And if we carefully play our cards meaningfully and thoughtfully we will all look back on this awkward years and say, "what recession - I was fine the entire time."