To prepare for the future, state policymakers can learn from the past -- specifically, the Great Recession and the COVID-19 Recession. Drawing on lessons learned from both time periods, the authors of this brief set out to answer the following questions: (1) What lessons from past economic crises might help state policymakers and advocates prepare for the future? (2) How can states take this moment of heightened uncertainty to strengthen their education finance systems against future financial shocks? and (3) How can states maintain or improve the equity of their funding systems for students and communities most in need of resources? This brief identifies four key insights from recent economic crises and recommends state policy actions aligned with each. These recommendations build upon one another, so states can begin by shoring up state revenue sources and build up to planning for further federal aid in the future.