Americans of all ages are preparing for a potential recession, with memories of the 2008 financial crisis still fresh in many people's minds. Anxiety is on the rise as stock markets decline, and the fear of a looming recession is causing concern among different generations.

Alana Martinson, now 24, recalls experiencing the Great Recession at the age of eight. She vividly remembers the budgeting-focused advertisements on TV and the economic uncertainty that followed. Working at a nonprofit in San Diego, she fears repeating the tough economic times of her childhood.

With President Trump's trade war affecting the economy, the likelihood of an economic downturn is increasing. Business Insider interviewed individuals from various age groups, including baby boomers, a millennial, and Gen Zers, to understand their perspectives on the potential recession.

Some individuals are focusing on bolstering their savings habits in preparation for tough economic times ahead. Martinson, a Gen Zer, has always been frugal and is prioritizing saving money. Michelle Husberg, 62, credits her saving habits developed since youth for helping her navigate economic challenges. She and her husband have learned to remain calm and consistent with their financial decisions, drawing from the lessons instilled by her parents who were diligent savers.

Husberg, a young boomer, has endured economic downturns before, drawing strength from her upbringing and careful savings planning. Despite witnessing her savings fluctuate due to market changes in the past, she and her husband have ensured financial stability by making informed investment decisions and relying on their pension and Social Security to cover essential expenses.