Economists have been debating for some time about the state of our economy and whether we officially have entered a recession.

Having been a career counselor through two previous recessions and a few false alarms, I decided long ago that the best strategy in uncertain times is to act as if the worst-case scenario is inevitable.

So, recession or no, this week's column looks at career-management strategies — and next week's installment explores job-search strategies — for an economy in recession. If it turns out that the tips aren't needed, so much the better.

The advice for career management during a recession falls into two categories: managing your career and managing your finances.

For the purpose of this week's column, I'll assume that you have a job. If you don't, stay tuned for next week's job-search tips.

MANAGING YOUR CAREER

1. Take a second job. Even if it's for only one weekend a month, you'll be amazed at the benefits. In addition to the income, which can be deposited directly into a savings account, you'll gain new contacts and the security of knowing that, if something happens to your regular job, you will have something to fall back on.

2. Broaden, rather than deepen, your expertise at work. While your instinct might be to get extremely good at something, this is actually a bad strategy. The more narrow your focus, the easier it will be to let you go if that particular task can be eliminated or streamlined. Instead, look for ways to be used by multiple departments.

3. Don't leave too quickly. When jobs are more plentiful, it's less risky to quit without new employment in hand. In a recession, however, you're better advised to stay put and make the best of the situation, provided that it isn't causing mental or physical health problems.

4. Beef up your education. Now is a good time to finish a degree or to add a certificate or extra endorsement to your professional training. Don't launch a new, lengthy degree program, however, unless you are committed to finishing it in the near future. If you get laid off, a partially finished degree won't have as much currency on the market as a completed certificate.

5. Give serious thought to learning a trade or profession. While you're exploring training ideas and considering second jobs, ask yourself this: "Is my current work valuable outside my company?" Most administrative and clerical jobs won't pass that test, but many blue-collar and professional jobs would. In other words, an accountant (a professional) or a plumber (a tradesperson) will have a better chance of finding new work than will someone with less-definable skills. They also will have more opportunities to work for themselves — or for cash or on contract.

AMY LINDGREN

WORKING STRATEGIES

MANAGING YOUR FINANCES

1. Build up your liquid reserves. "Liquid" in this case means money that you can access quickly, without paying a penalty for withdrawal. If necessary, consider diverting your normal retirement contributions into a savings account for a few months to build up this liquid reserve. Just remember to change back to retirement contributions after you've got a cushion started.

2. Pay off short-term debt. Do NOT use your retirement savings for this; that's just robbing your future self to pay for a past self's dinner out. Rather, use extra income from your second job or from extra hours at work, or use savings gleaned from cost-cutting measures.

3. Restructure long-term debt. Assuming you've been at your job awhile, this might be the optimal time to refinance your mortgage or restructure other debt. My best advice is to refinance for the lowest possible monthly payments at the lowest possible interest rate — but then to continue paying the higher amount anyway. You'll have the safety net of lower monthly obligations, should you need them, but you'll make almost the same progress toward repayment in the meantime.

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As you can see, the common theme for these recession-ready career and finance ideas is preparation. Even if you don't feel the pain of a shrinking economy right now, acting as if you do will cushion any future blow.

- Amy Lindgren owns Prototype Career Service, a career consulting firm in St. Paul, Minn. She can be reached at alindgren@prototypecaree rservice.com or at 1071 W. Seventh St., St. Paul, MN 55102.