In the tumultuous first months of the new Trump administration, thousands of people in Maryland have lost federal jobs or positions tied to the government. Amid these sweeping cuts, the federal government — Maryland’s most reliable industry — now feels riskier than ever before.

If you’re not sure what your job will look like in six months, or whether you will have one, the time to start planning is now, personal finance experts say. The process can seem daunting, but it’s critical to shore up your finances so that you’re protected, no matter what happens.

Here are some steps you can take, according to the experts:

Take a deep breath

Don’t make decisions from a place of fear. The choices you make now could determine what your financial picture looks like in the future. Don’t rush to quit your job or retire early because you think you might be laid off in a few months.

“When craziness is going on all around you, people don’t think clearly, and they start making rash and emotional decisions,” said Tom Cusick, a registered investment adviser and president of the Financial Planning Association of Maryland.

“What’s most important is to pause, take a breather and really think through your situation and what’s going on,” he said. “Start assessing your situation in the most non-emotional, fact-based way.”

That can be difficult when you are grieving the loss or expected loss of a job, said Kathy Morris, a Maryland-based financial coach. Federal workers who are facing job loss should give themselves time for that process, but it’s also important not to stay there for too long, she said.

“They can either choose to continue to live the way they want, hoping that things get better, and they might, or they can take ownership of their immediate future,” she said.

Make a plan

The most important early step you can take is to evaluate your spending and make sure you know where your money is going, experts said. This means making a budget and getting a good sense of where your finances stand.

You can keep it simple, with a basic spreadsheet laying out spending and income, or you can use online budgeting tools, which your bank may offer.

“Creating a budget or spending plan is really important for building financial health, and it is critical when things are uncertain,” said Sue Rogan, the director of strategic partnerships at the CASH Campaign of Maryland, a nonprofit that promotes economic advancement for low- and moderate-income Marylanders.

“You want to track every single dollar getting spent, planning it out so you know you have the money there or coming in,” she said.

Having a plan will help you identify places you can cut down on spending, whether canceling streaming services or postponing a home improvement project. You won’t necessarily have to eliminate these things forever, Morris said, but going without them for a while could help set you up for a better financial future.

“Get creative,” she said. “Ask the hard question: Can we do without it for now? More than likely the answer will be yes, for now.”

Build up savings and cut down on debt

If you don’t have a savings cushion, use this time to build it up with the spending cuts you identify in your budget. Experts recommend having at least three months in expenses saved up for an emergency, but you can start with whatever feels achievable.

This is also a good time to take a look at your debt and fixed expenses, like your mortgage or car payment. It could be worth calling your mortgage company, explaining your situation and asking about loan modification possibilities. Same goes for credit cards, which carry high interest rates and should be paid off as soon as possible.

“They want to hear from you,” Morris said. “If they don’t hear from you, they’re expecting you to pay things status quo. If they hear from you and you say, ‘I’ve been affected by this, can you work with me?’ sometimes they will say yes.”

Talk with family and professionals

These steps can be formidable to approach on your own, so it can be helpful to talk to a financial planner or another qualified professional, Cusick said.

They can help you decide trickier questions, like when it might be time to consider reducing your retirement contributions or pulling money out of an investment account to help build up savings. Taking an early distribution from a 401(k) can bring penalties, but it might be a better choice than adding new debt. That’s where a professional can advise you.

The CASH Campaign of Maryland offers free, one-on-one financial coaching for Maryland residents and free online classes that could be a good starting point.

Some organizations are also offering financial planning webinars targeted at federal workers.

Since your new spending plan will affect your immediate family, you should also talk to them about how things will change and why it’s important to work as a team.

Kids “don’t have to know everything, but they do need to know we’re not going to be doing the same things we always do for the next few months,” Morris said. “Use this time as a teaching moment.”