Right now is probably the worst time to graduate in decades. With a ceaselessly shrinking job market and constant media warnings that the worst is yet to come, the fact that we’re about to enter the work force is far from comforting. While we can’t ensure we’ll get jobs, we can make smart financial decisions that will help prepare us for our post-graduation life.

If you don’t have any savings, start now. I’m dead serious. Even if the ‘rents will feed and house you post-graduation, savings are crucial. It’s likely you’ll have some sort of expense — credit card bills, loan payments, etc. — between graduation and employment. Plus, even if you’re lucky enough to find a position immediately, you never know if your job will be axed a few months down the line because of further layoffs. Save as much as you possibly can, and aim to have at least $1,500 in savings by graduation. Cut down on unnecessary expenditures — daily scone and latte from Starbucks, weekly manicures, etc. Find ways to cut grocery bills — switch from Whole Foods to Trader Joe’s, for example.

Move back home to save money on rent if you live within commuting distance of campus. While it may be a hassle to get up that much earlier, free rent — and often food — is a great way to save money quickly. Consider it an investment in your future. It may be a pain, but nothing can beat the feeling of security you get from savings.

Set up a maximum budget for discretionary spending, and do your best to stick to it. An appropriate amount could be around $50 per week; now is not the time to be spending without abandon on unnecessary items. Setting a sensible and conservative limit will make you feel more secure and proud of your self-restraint.

Leave the car at home and use your U-Pass. While the cost of gas has decreased significantly, $50 per quarter for unlimited bus rides is a great value. Plus, you don’t have to deal with sitting through bumper-to-bumper traffic, which drains both your patience and your tank. Carpool for ski trips and other outings with friends. All the money you used to spend on gas can now go straight into savings for the future.

On short trips, save the planet — and your health — and walk or ride your bike.

Take a rain check on unnecessary vacations. While that spring break trip to Cabo or Vegas is a guaranteed good time, nothing puts a damper on a vacation like a credit crunch. People of all income levels are cancelling trips and saving the money, so why not do the same? Mexico may be fun for a week, but even better is money put aside for a jobless month.

Ultimately, nobody knows how bad the job market will truly be next June, but you can hope for the best while preparing for the worst by saving as much as you possibly can. Not having the cushion of savings during an economic crunch can lead to quick disaster.

Reach columnist Katie Paff at opinion@dailyuw.com.