Recession fears have been growing, job creation has been weakening and observers see the ranks of the unemployed swelling in the next few years in the case of a downturn.

In addition to financial hardship, emotional stress can accompany a job loss and take its toll on households.

But experts say if you or someone in your family is laid off, it is important that you move to offset any damage quickly.

These four steps can help you cope:

1. Don’t panic

Panic can lead to bad financial choices. Losing a job doesn’t have to create havoc in a household, experts say.

It’s normal to feel out of sorts in weeks following a job loss. But then those who lose their jobs need to take a step back and regroup, says Nancy Molitor, a psychologist and a public education coordinator for the American Psychological Association.

“Literally, take a deep breath and say: ‘What do I need to do to move forward?”‘ Molitor says. She suggests that people recall the last time they had a tough situation and think about the steps they took then to weather that storm.

Some who have been laid off during a recession go back to school. If immediate income is important, part-time work should be considered.

“That can be working for a temp agency where you have some flexibility, or it can be in a retail position,” says Audrey Trapp, director of the career management program at Johns Hopkins University. “Try not to let pride get in the way.”

2. Cut back

To start, each family member can look for ways to trim expenses.

“People are faced with tough choices,” says John Schmitt, a senior economist with the Center for Economic and Policy Research. “You have to cut back on expenses … postpone that maintenance on your house.”

In recent years, some have relied on a cash cushion provided by home values, using their homes like ATMs, Schmitt says. With a troubled housing market, those who lose jobs may end up turning to credit cards, but they need to be prudent.

“When push comes to shove, people don’t have trouble figuring out how to cut back expenses,” Schmitt adds.

3. Use available resources

Some who lose their jobs will receive severance payments. Those out of work should also apply for unemployment insurance benefits right away, says Monica Halas, senior employment attorney with Greater Boston Legal Services.

Halas helps individuals who are trying to get benefits and suggests that those who are turned down should go to a local legal services program.

“Many workers who are eligible just don’t know they are eligible, so it’s very important to get the message out,” she says.

Many people also don’t realize that they are eligible for programs such as food stamps and home heating assistance. The earned income tax credit is another good tool that families should look into, Halas says.

4. Prepare as a family

Losing a job can raise insecurity for the whole family, and a person who is laid off needs to be open with his or her spouse, Trapp says. She adds that some children can worry about what will happen.

“It could involve relocation for the family, and it certainly calls into question financial security,” she says.

When a wage earner loses a job, the nature of who is depending on whom in a family can change.

“You have that stress in that somebody formerly in one role may have to be in a different role,” Molitor says. “You also have a situation where the person who was empowered suddenly feels helpless.”

She recommends people prepare plans for possible worst outcomes.

“A lot of anxiety is fear of the unknown. Anxiety becomes like a huge wave, and it’s contagious,” Molitor says.

“It’s hard enough to lose a job when times are good. But looking for a job in a poor economy is going to instill more anxiety in people. Especially if it’s an unanticipated loss, there’s double the chance that there will be a fair amount of stress.”

Many people are more resilient than they know, she says.

“It’s sometimes latent,” Molitor adds. “There are some people who actually take a tough situation as a challenge.”