71 WAYS TO SURVIVE THE DOWNTURN

Times are tough. The markets are down. Unemployment is up. So is our stress. While there’s reason to be concerned, there’s also opportunity. Now is the perfect time to take a look at your monthly expenses, your debt and your resume to see where you can cut, slash and beef up for a healthier, happier and more productive life. Need help getting started?

3 IDEAS FOR PROTECTING YOUR INVESTMENTS

> Your savings accounts: As long as you have less than $100,000 in a federally insured bank, savings and loan, or credit union, the government will stand behind your savings, even if your bank goes belly-up.

> Your 401(k): Have you checked your 401(k) plan lately? Chances are, your nest egg has lost value. Don’t be discouraged. Remember, it’s a long-term investment. Still, it might not be a bad idea to review your investment choices —- and assess your comfort level.

> Stocks and mutual funds: While you’re at it, it’s not a bad time to review your other investments, too. If you have a stockbroker or financial planner, set up an appointment to discuss your portfolio.

Source: www.goodhousekeeping.com

8 WAYS TO PREPARE FOR A JOB LOSS

> Establish an emergency fund: It’s always a good idea to set aside enough money to cover expenses for three to six months.

> Live within your means: Don’t spend money you don’t have. Avoid buying things you don’t need.

> Avoid credit cards: Remember, taking on more debt (particularly with high interest rates) can only add to your stress.

> Tackle high-interest debt: Transfer that high-interest debt to cards with lower interest rates. (You’ve heard this one before, right?)

> Network: Maintain plenty of contacts. (You’ll stand a better chance of finding work quickly.)

> Line up credit —- while you’re still employed: Own a home? See that job loss coming? You might want to open a home-equity line of credit —- just in case. It’s easier to get approved while you’re still employed.

> Pursue higher education: If your company helps cover education costs, use it —- while you’re still employed. Improve your skills, marketability and your resume.

> Look into health insurance: Make sure you understand your plan and what it covers. Then, figure out how much it would cost you to extend your employer’s coverage through the federal program COBRA.

Source: www.msnbc.msn.com

9 TIPS FOR SINGLE PARENTS

> Monitor your current spending:. Carefully study what you’re spending and on what —- then look for ways to save money.

> Be honest with your children: Make sure they have a good understanding of the family’s financial situation. That way, they’ll have a better grasp of why spending may need to be curbed.

> Save on child care: Look to family members for help. Share child care duties with someone you trust.

> Pursue tax breaks: As a working parent, you’ll likely be eligible for child care tax credit.

> Make lists, plan and stay focused: Save time and money by preparing a grocery list. Plan carefully when running errands (that saves time and gas).

> Visit libraries: Unlike bookstores and video stores, everything in the library is free.

> Save for college and retirement: The best way to save? Have money taken directly from your paycheck each week.

> Make sure you have adequate insurance coverage: Disability and life insurance is a necessity.

> Establish an estate plan: Name a guardian for your minor children and spell out how your money will be distributed to them.

Source: www.msnbc.msn.com

9 WAYS TO SAVE MONEY AT HOME

> Turn your thermostat down. Sweaters are cheaper than electricity or gas.

> Install a programmable thermostat.

> Insulate your water heater —- and turn it down, too.

> Running the dishwasher or washing machine? Make sure you have a full load.

> Do your own yardwork (you’ll get exercise —- and save money).

> Use new energy-efficient light bulbs at home.

> Unplug all unused electrical devices.

> Use timers and power strips.

> Prevent drafts, which waste energy and money, by sealing your home.

Source: www.thomashawk.com and www.thesimpledollar.com

6 WAYS TO REDUCE YOUR CREDIT CARD DEBT

> First, don’t take on any new debt. When possible, pay off balances each month.

> Look for ways to consolidate debt.

> Get a personal loan through your local credit union.

> Call your credit card company to see if they’ll reduce your interest rate.

> Look for opportunities to transfer balances from higher-interest cards to those with lower interest rates.

> Sign up for automatic debt repayment plans. Some installment plans, particularly those with student loans, offer an interest-rate reduction because of the automatic payment plan.

Source: www.thesimpledollar.com

16 LITTLE IDEAS THAT MAKE A BIG DIFFERENCE

> Need a haircut? Why not wait an extra week?

> Cleaning up a spill? How about using a sponge instead of paper towels?

> Paying for a gym membership? Look for other ways to exercise. Walking is free.

> Speaking of which, maybe it’s time to quit driving to work. Save gas (and the environment). Use public transportation.

> If you must drive, obey the speed limit. (You’ll use less gas and won’t have to pay for expensive speeding tickets).

> Quit smoking (a good tip —- even in strong economic times).

> Have a cellphone? Perhaps it’s time to get rid of your home phone.

> Pack a lunch.

> Thinking of making a large purchase? Wait one week. Sleep on it. Think it over.

> Limit trips to the dry cleaners.

> Shop around for auto insurance. You might find a cheaper rate.

> Look for free things to do.

> For one month, keep track of every expense (such as that $4 cup of coffee.) Review to see where you can cut or trim.

> Eat at home —- and don’t let food expire.

> Pay your bills electronically. (You’ll not only save money in stamps, but you’ll also avoid late fees.)

> Why pay for coffee or tea when you can get it free at work?

Source: www.thomashawk.com

6 QUICK WAYS TO GET CASH

> Hold a yard sale: Reduce clutter —- and pocket about $100.

> Auction off items: But remember that online auction sites usually can’t guarantee cash in hand by the end of the week. After all, you must allow time for mailing and electronic money transfers.

> Visit the neighborhood pawn shop: You can get cash —- and still have some hope of getting your items back.

> Ask family or friends: Need quick money? Ask your friends or relatives for a loan. (Good reasons usually help. And to keep good relationships, you should probably make such requests sparingly.)

> Turn to local charities: For those with truly urgent needs, check with local charities and government sources. Remember, though, most of these organizations or agencies have stringent requirements.

> Offer your services: Mow neighbors’ lawns. Walk their dogs. Baby-sit. Sure, you may have to swallow your pride, but …

Source: www.savingadvice.com

14 CHEAP (BUT ROMANTIC) DATES

> Go for a romantic walk.

> Have a movie night —- at home.

> Go to a playground.

> Play board games.

> Go for a hike.

> Volunteer together.

> Have a picnic.

> Go on a brewery or winery tour.

> Prepare a home-cooked meal.

> Visit an inexpensive museum or historical site.

> Go out for dessert instead of a full meal.

> Go to a poetry or book reading or lecture.

> Go to a community festival.

> Go to an “off the beaten path” place.

Source: www.thesimpledollar.com