Learn how to cook! There are two people in my life who I worry about financially and they are always eating out.

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~Wendy~Rock-n-roll Hippie~Mom to Bob and Jamie~Wife to Kevin~

"The glass is neither half full nor half empty rather; it is twice as big as it needs to be."~Ngan Nghiem

Living the Simple Life...one day at a time.

One recommendation I haven't seen mentioned yet is to acquire new skills and dust off your resume.

If you're both working, do everything possible, as quickly as possible to live on one income. That non-working spouse is the safety net for the family. Should the main bread winner lose their job, the alternate spouse might be able to pick up the slack or both spouses might have to work if the main breadwinner can only find a lower paying job. If you need more schooling or more experience, this is the time to get it. If your career isn't in a growth area, this is the time to hone your skills in something else.

My main recommendation is to pay off debt and remain as financially flexible as possible. If I already owned a house and housing prices were down, I wouldn't be looking to sell so I could downsize. I just might need that extra space so I can rent out a room for extra income - if push comes to shove.

Also do everything you can to get healthy and eliminate bad habits (especially smoking). You don't want to be forced into paying through the nose for coffee, cigarettes, or alcohol when it becomes really difficult to obtain. If you have health insurance now and need a medical procedure or dental work, do it now. It might get much more difficult to pay for later.

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"Poor people work for their money. Rich people make their money work for them."

This is some GREAT advice!

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~Wendy~Rock-n-roll Hippie~Mom to Bob and Jamie~Wife to Kevin~

"The glass is neither half full nor half empty rather; it is twice as big as it needs to be."~Ngan Nghiem

Living the Simple Life...one day at a time.

We took this a step further, and dh and I both found part-time jobs in addition to our regular occupation (our dks are older/driving age). My 2nd job should be enough to cover ds's college expenses next year without loans (after scholarships). Since we make enough money not to qualify for any need-based grants or scholarships, we're taking extra jobs to pay for college etc. But, we don't care, it'll be worth it to send our kids out into the world with no debt, and we make it a point to teach them how to accomplish that. The dks did/are doing their parts too by getting fantastic grades and earning their scholarships. That's their "job" right now, and they are very dedicated and competitive when it comes to scholarship hunting!

The best thing is to stop spending when you don't NEED to. Which means you have to figure out what is a need and what is a want. (I still struggle with this myself).

Plant a garden even if it is a container
learn to cook
conserve water
stop buying paper goods use reusable plates, cloth napkins
Make your home cleaners

If you don't work get a job or get a part-time job. This has really helped us.

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Success is the sum of small efforts, repeated day in and day out.

Robert Collier

One of my dreams: Walking along a beach with BLUE water.

1. Sounds silly but watch out for your neighbor. Not only are you going thru tough times but so are they. I believe in karma and if you help others I know they will be there to help you in those tough times.

2. Re-evaluate your luxuries. My DH tells me we cannot live without satelite but I know he will be just fine.

3. In times like these do not enter into any contracts unless you have to. Think you need a new cell phone now and can afford it but most cell phone companies make you sign a 1 or 2 year contract. Who knows if you can afford it in 6 more months.