Global tariff wars recently rocked the stock market, leading many Americans to panic over their financial futures — but The National Enquirer is here to help you weather the economic storm.

Veteran Wall Street financial advisor Robert C. Ford says that now is not the time to lose your head. “The key thing is not to panic,” stresses Ford. “Even when the stock market sinks, it inevitably rises again. “In the meantime, there are things folks can do to keep their finances safe and lower their risk of winding up in the poorhouse.”

Here are five key ways to protect your cash:

1. Build a Rainy Day Fund

“You really want to have that buffer during an economic downturn so you’re not left holding the bag in the event of a medical emergency or loss of your job,” notes Ford. “And if you hit a financial windfall, such as a tax rebate or bonus at work, add that to the pot to strengthen your financial reserve.”

2. Diversify Your Investments

Financial planner John Anderson of Equitable Advisors suggests a market downturn is the time to “shift to a portfolio with less risk.” Ford adds, “As you get older and will need money in five to 10 years, you want to be more diversified by having a portfolio less weighted toward volatile stocks and more toward stabler investments like bonds, gold and real estate.”

3. Reduce Your Existing Debt

Personal finance content creator Angela Castillo believes that having your financial house in order is especially vital during trying economic times. And Ford notes, “You really need to pay off your highest- interest debt first while also considering consolidating debt and, most of all, not taking on new debt.”

4. Protect Your Assets

Ford says it is imperative to have sufficient insurance coverage for your health, home, vehicles and, in the case of business owners, liability. “Lacking that protection when an emergency hits is the fastest way to go broke,” he warns.

5. Budget Effectively

During times of financial uncertainty, it is critical to keep a detailed account of your monthly expenses and identify where you can cut costs. “Separate your fixed expenses, such as rent or mortgage, car payments, insurance, utilities and cell phones, from your variable expenses, such as groceries, clothing, dining out and entertainment,” he suggests. “You’d be surprised at the ways you can cut costs — and you’ll be glad you did.”