Preparers, or survivors who stockpile supplies for a coming apocalypse, have long been derided as fringe denizens but are quickly becoming mainstream. Amid concerns of COVID-19 and the economic uncertainty, consumers are stocking up on food, water, toilet paper and hand sanitizer. But how much effort is being made in parallel to put finances in order?

Most Americans are living one crisis away from economic uncertainty And they're not just low-income Americans. More than 70% of Americans live paycheck to paycheck, according to the American Payroll Association, and nearly three in 10 Americans have no emergency savings, according to Bankrate's Financial Security Index.

When you're feeling depressed by illness or paralyzed by the stress of "imminent doom," the last thing you want to do is make sure your basic needs can be met. So what you do now can help ensure your financial security and minimize unnecessary and costly surprises, like late fees, or increased interest rates, or worse, indebtedness.

Here are four steps to prepare your finances like a survival professional.

STEP ONE: CONSOLIDATE YOUR FINANCES
If you can't see your entire financial position in one place, take the time to add your accounts to see where you stand with your savings, spending, debt and investments. See if your bank or credit union offers tools to enable this, or use an app like YNAB (You Need A Budget).

With interest rates coming down, it's worth looking at how you can save some money on interest payments. If you have multiple credit cards, look for deals to consolidate them into a single monthly payment through a debt consolidation loan. And then set up an automatic payment on that loan!

STEP TWO: AUTOMATE YOUR PAYMENTS
See if your bank or credit union offers an automated bill payment service, and sign up. The more bills that have been automatically paid, the less likely it is that you won't pay if you're sick.

STEP THREE: LIGHT UP YOUR PARTNER
As the old saying goes, hope for the best but prepare for the worst. Have the hard talk with your partner or family about your overall financial situation. If you handle finances, it's important to share details of how to access the accounts with your partner.

If you've been a passenger in your own financial life, now is the perfect time to commit. One resource to guide you through the process is Tips for Talking About Your Finances with Your Partner and Preparing for economic uncertainty.

STEP FOUR: ISOLATE YOUR LOVED ONES

Read More: The consequences of the coronavirus on the Italian economy
If you have children, make sure you have life insurance (it may be cheaper than you think).

And if nothing else, now is a good time to define what "emergency" means to you. The general rule of thumb for an emergency fund is to have three to six months of spending in savings, so you can weather short-term storms. If you don't have this, look for expenses that you can cut now and divert to savings.

Preparation is no longer the domain of the inhabitants of the periphery. With school closings, working from home and canceling events, many people will have extra time on their hands. So use that time to prepare your finances to clarify your financial position and plan for the future. If not now, what are you waiting for to prepare for economic uncertainty?

The coronavirus pandemic is ravaging Italy with tremendous force. In addition to bringing negative and irreparable effects to the population, the italian economy it can also take a big hit.

Although death rates are expected to rise in countries where the outbreak started later, the number of deaths in Italy soared above 1,000 this week. Much higher than in Europe.

Older people are among the most vulnerable to the virus. Italy has the oldest population in Europe. Around 23% of Italians are 65 years of age or older. In an effort to conquer the virus, the Italian government has imposed drastic quarantine measures.

Like all museums, the Uffizi Gallery in Florence is closed. No one is throwing coins into the Trevi Fountain in Rome. From inside the Vatican, Pope Francis broadcast his regular Wednesday mass live. Instead of greeting pilgrims in St. Peter's Square.

The Italian economy in the face of covid-19

Apart from the threat to human life, Italy may be more exposed than other countries to the severe economic consequences of the pandemic. The potential repercussions for the euro area, and the EU as a whole, cannot be overstated.

The pandemic is already a test of Europe's unity and political will, and it could get much worse. Without determined and coordinated action by all EU governments and institutions, the survival of the EU economy may be in jeopardy for the second time in a decade.

The roots of these weaknesses run deeper. During the 20 years of the euro's existence, Italy has registered almost zero economic growth. Low labor productivity, an inadequate education system, an ineffective judicial system, corruption, and organized crime are problems with a long history.

Since the end of the 20th century, Italy's public debt has been worryingly high. But, before the 2010 crisis, it amounted to just over 100% of the gross domestic product. Now it is close to 135% of GDP.

Emergency measures

From a public health point of view, Italy's emergency measures are essential. But, they carry risks for the multitude of small, family-owned businesses that rely on daily customer contact and drying-up cash transactions.

Giuseppe Conte, Italy's prime minister, said the government was setting aside 25 billion euros. Or around 1.4% of GDP, to protect the economy against these threats.

However, leading economists such as Lorenzo Codogno, a former director general of Italy's Treasury, and Ashoka Mody, a professor at Princeton University, doubt that this is enough.

They think the risks of the pandemic are so high that the Italian economy, the third-largest in the eurozone, should ask the eurozone bailout fund and perhaps the IMF for immediate financial help.

Read More: Economy is growing but more jobs are needed

A good credit score It's not just something to brag about; can help you secure a favorable interest rate when you apply for a mortgage, a car loan or a new credit card.

There are many ways to improve your credit score, including paying your bills on time and contracting multiple lines of credit. If you're working to improve your score, the most efficient course of action may be to use one or more credit cards responsibly. One or two cards can help you achieve multiple goals and gradually improve your credit score.

Using credit cards to improve your credit score
Here are five ways using a credit card can positively impact the things that determine your credit score, from payment history to the length of your credit history.

1. Make your monthly credit card payments on time
Paying all your bills when they are due, including your credit card bill, is the easiest way to increase your credit score. This task falls under the “payment history” category, which represents the 35% of your credit score.

2. Keep a small balance to lower your credit utilization ratio
The credit utilization ratio is the relationship between the amount of credit you can use and the amount of credit you are using. It is the balance you have on your credit cards in relation to your credit spending limit on all credit card accounts you have open.

3. Increase your spending limit to lower your credit utilization ratio
How do you increase the usage limit? You should be able to call the credit card company's customer service number to request the change. When I made this call, it took less than 10 minutes. You can't guarantee they'll say yes, but you won't be penalized for asking.

Read More: Learn how it works and how to increase your credit score

If you think raising your spending limit will tempt you to overspend, you should refrain from raising the limit. This will not only cause you to accumulate debt, but your credit score it could also go down if you can't afford to make payments to keep your balance down.

4. Keep the same card open for a long time
This strategy falls under "length of credit history," which makes up 15% of your score. If you're tired of paying off your credit card, you may be tempted to cancel the card entirely. This might be the right move for you, but if your end goal is to build credit, you may want to reconsider.

5. Negotiate a lower APR on your card
If you find yourself in a situation where you can't pay your card balance in full each month, your balance accrues interest – unless you have an introductory APR offer. If your card's annual percentage rate (APR) goes down, you'll pay less interest. This could make it easier for you to pay off your card and/or make payments on time, thus improving your credit score.

A global recession driven by a pandemic, as the flow of goods, services and people faces increasing restrictions.

Just a day ago, President Donald Trump halted travel to the United States from Europe, Italy's government ordered nearly all shops closed, and India suspended most visas. Twitter Inc. joined the barrage of companies telling their employees to work at home and the National Basketball Association suspended its season.

While those announcements are aimed at containing the coronavirus, every quarantined city, canceled flight, scrapped sporting event and frustrated conference will hammer demand around the world this quarter and probably longer. The initial rush by consumers to stock up on supplies can be followed by months of prudent restraint against the pandemic.

"The resulting pandemic of fear continues to spread and is set to cause a global recession," Ed Yardeni, president and founder of Yardeni Research Inc., wrote in a research note.

Hopes of only a few weeks ago that the world economy would follow a V-shaped trajectory: a sharp drop in growth in the first quarter followed by a rebound in the second have been dashed. Now the biggest economic shock since the 2008 financial crisis is raising the risk of a global recession, and the debate is shifting to the length and depth of the downturn.

Stocks and bond yields continued to slide on Thursday, and the MSCI World Stock Index is now on the brink of a bear market.

China is already on track for what could be its first quarterly contraction in decades. In the US, a Bloomberg economic model suggests a 53% chance that the 11-year expansion will end within a year. The economies of Japan, Germany, France and Italy were already contracting or stagnating before the virus outbreak, and the UK is reeling amid Brexit uncertainty.

Read More: Coronavirus may bankrupt some Chinese businesses

As the virus spreads, the threat grows of a phenomenon economists call a feedback loop, a vicious cycle in which a country that begins to recover at home later suffers from a decline in demand abroad as other nations succumb, prolonging the recession.

JPMorgan Chase & Co. counterparties told clients this week that the risk of a global recession "has increased materially." To rekindle their confidence, they said they need to see the virus fade, a stronger and more creative response from economic policymakers, and businesses and banks not slash jobs or slash lending. They also argued that falling oil costs will not necessarily boost growth as much as they have historically because consumers will pocket the windfall from cheaper fuel prices.

Policymakers are already struggling to keep up, raising concerns that the fall in demand will not be sufficiently cushioned by the stimulus and reflecting on the pandemic.