A golden rule of surviving any recession is to minimise your exposure to debts and that means clearing your bills. Yet there are good deals to be had out there. Another idea is to transfer any credit card debts to a small loan, which is bound to cost you less in the long run. If, after all of this, you still have spare cash to invest, the question is where will you get the best return. Given the recent yo-yoing of share prices the stock market is a far from safe option these days.
Many financial experts say shares have still got some way to drop before the market bottoms out.
But, as with all investments, the lower the risk the smaller the return. Lots of these things could be done at any time, but when there is spare cash we never get round to it. In general, we just need some basic belt-tightening . You should look first at your major out-goings every month and either fix them or putting a cap on them. The other thing is just to cut spending.