No, I’m not running for office and the election will be over by the time you read this article. I just thought it would be appropriate in these times to discuss the bottom line when it comes to minimizing the effects of the well-publicized issues related to the economy on you and your families.
            With decreasing government job security, the yo-yo-ing stock market and high oil prices, public safety personnel, not to mention people across the U.S., are feeling the pinch. How do we get through these hard times and plan for/survive the worst case scenarios? Both agencies (see “Radiohead,” December 2008, PSC) and employees are grappling with these dilemmas. Below I’ve listed a few steps you can take on the home front.
            Let’s say things have gotten to the point that you’re being laid off from your agency or being given more days off without pay every month. Now, the national or county economies no longer have much meaning, and your personal economy becomes your No. 1 focus. You can still reduce your expenses to help make ends meet.
            Follow the same steps listed in the December column. Find ways to cut unnecessary expenses. Raise or lower the thermostat in your house, add an extra blanket to the bed, and/or wear a sweatshirt and slippers at home. If you have drafty doors or windows, seal them with weather-stripping or put a towel under the door to stop the cold air from slipping in. Close the damper on your fireplace when it’s not in use. Check your attic for small holes that can let energy escape. Wrap your pipes with inexpensive foam insulation. (You can buy a packet to cover 12 feet of pipe for about $3.) Turn off lights in rooms you aren’t using.
            Cut back on your cable package. All those premium channels are nice, but how often do you really watch 18 different movie channels at once? If you cut back to a basic package, you could save up to $30 per month. And if you can’t live without movies, sign up for a movie-by-mail service for about $10 per month and you’ll still come out ahead.
            If possible, pay your bills on time to avoid expensive late fees. Late fees on the minimum payment of a credit card can be $49. If you’re close to your credit limit and the late fee puts you over, you’ve just cost yourself another $40. Add the interest that accumulates, and it’s easy to see how credit card debt gets out of control. This can spell long-term financial disaster for you when you are already strapped for cash.
            However, you should never pay unsecured debt (e.g., credit cards, personal loans, etc.) by not paying your rent, mortgage, utilities and/or car payments. If you don’t pay your mortgage, you lose your house. Ignore those utility bills, and you won’t be able to heat or light your home. Lose the car to repossession, and now you’ve lost your way to work, which could cost you your job and throw everything else out the window.
            Brown bag your lunch instead of eating out. Instead of spending $5 a day on an artery clogging hamburger, spend $15 bucks on a loaf of whole-wheat bread and a pound of deli sliced turkey, cheese, lettuce, tomato, a bunch of grapes and some baked pita chips. In doing this, you’ve fed yourself a wholesome, filling, healthy meal for a week and save 10 bucks. You can also eat cheaper if you eat dinner leftovers for lunch. I know how good a nice greasy burger tastes at 2 a.m., but just imagine eating a $5 bill. That thought should make your brown bag lunch taste even better.
            Sign up online for free coupons at such Web sites as Coupons.com. These sites will allow you to print out coupons based on your ZIP code, and a few even help you develop menus and shopping lists. Also, buy in bulk whenever possible. Don’t buy something just because it’s on sale. If you won’t eat it or use it, you’ve just wasted money despite the savings. Eat before you go to the grocery store and avoid impulse buys. Cooking from scratch often costs almost half as much as buying prepared foods, such as frozen pizzas or microwave meals.
            Use cash, and leave the debit card at home. If you force yourself to use cash, you’ll think twice about such impulse purchases as that $5 coffee. Not only will leaving the debit card at home help you avoid purchasing things you don’t really need, it can potentially save you thousands of dollars a year in overdraft fees. A dirty little banking secret: For most debit cards, if you use the card to make a purchase over the available account balance, the charge will go through but with a hefty overdraft charge. One mistake in your subtraction can get you into really hot water. Avoid ATM fees. ATM fees can add up to $100–200 a year if you use the machine only once a week.
            It’s never fun to tighten one’s belt, but the benefits can be astounding. Hopefully, we can come through this current crisis without experiencing the worst case scenario, but if you do, these tips can help get you through it.
            The bottom line: If you take steps to improve your financial position now, it will certainly be a lot easier when things get better.
            By the way, here’s where I make my militant anti-smoking appeal. I used to smoke several packs a day and then I quit cold turkey. That was back when a pack of cigarettes was 50 to 75 cents. Today, a single cigarette costs upwards to a few dollars. Forget the health issue. Just think about how much money you will keep in your wallet if you give up the habit.

.