When times get tough, there are things you can do to help ease the financial and economic pain. We all live different lives and we all need to customize our lifestyles to fit our needs. Gas prices are astronomical. Inflation is a killer. Jobs are few and far between. What can you do to stay afloat in this dragging economy?

1. Just be smart. Use common sense. If times are tough, it's not the ideal time to go buy a new surround sound or a new iPhone. Make due with what you have an when the economy strengthens, go splurge a bit on yourself. For now, tuck that money away for a rainy day...or a day when you no longer have a job!
2. Do some side work. We all have hobbies and things that we enjoy to do in our spare time. Why not turn these hobbies into some extra cash as well? For example, I do web design and marketing. Creating a website every now and then adds a little cushion to the bank account.
3. Hold off on that vacation. Yes, we all LOVE to vacation the summer away but now might not be the best time to plan that week long trip. Instead, settle for a long weekend. You can even do something extra cheap like go camping with the family. It still gets everyone together, gets you out of town and fulfills that sense of need for a planned vacation.
4. Watch signs at work that spell LAYOFF! Often, you will get NO warning when it comes to a business cutting back its workforce but this is not to say you cannot be prepared. Keep your eyes and ears open at the office for tips that show a workforce reduction could happen sooner than later. Raise freezes, department and position shifts, and a sense of "worry" from executives can be great indicators. If you see this happening, GET YOUR RESUME READY AND GET LOOKING! You can always turn down another job offer if it arises. Better to be safe than JOBLESS!
5. Eat out less. This is much easier said than done. I am not one to talk as we eat out most of the time. Cutting back lunches and dinners out can dramatically increase your savings and can help if the money is needed for an "emergency" situation. Make your lunch 4 days per week and treat yourself on Fridays. Save dinners out for the weekend as well. The saved money can add up quickly!
6. If you drive a lot, keep an eye on oil prices. This directly relates to gas prices and as you see oil go down in price, gas prices should see a drop a day or so later. You can also see if your boss will let you telecommute 1 or 2 days per week.
7. DO NOT live on credit. This is part of the problem that got the United States in this rough economic situation. People rely on their credit cards for EVERYTHING and this only digs the hole deeper. Don't buy things you can't afford. Only use credit cards if you can pay it off each month.
8. Keep your credit score intact. This is especially true if you will be buying a home soon as the better credit score you have, the better rate you will receive and the less money you will spend on your mortgage payments. You should check your credit score quarterly to assure everything is in place. You can go to www.MyFico.com and get a 3-in-1 Credit Report that give your credit scores for Experian, Trans Union and Equifax. You should be shooting for a credit score above 700. The higher, the better. Be sure to pay your bills on time and keep your credit utilization low.
9. This relates to the #7 and #8 but DO NOT purchase a house you cannot afford. Almost always the bank will approve you for WAY more than they should and often people think they are fine with a huge mortgage payment. This leave no room for error and if something happens and they get behind financially, it's almost impossible to catch up on a large mortgage payment. They are then looking at FORECLOSURE or taking losses to get rid of the house! Stay away from this situation. Only purchase a house that you can afford. If you can't afford anything, keep renting or camp out in mom and dad's basement for awhile longer!
10. Sit back and relax. No need to stress about the current economic situation. It will pass in due time. Ride the wave, be smart and wait for things to turn around.