Staying afloat as the economy sinks

Money

Take your A-game to work. If you don't want to land on the chopping block, become indispensable to your company. How? Lead new projects, arrive early (you'll get more done and get noticed) and create a cost-cutting strategy like an energy-conservation initiative. "Also, go back to school to increase your education and earning power," advises Small.

Review your household bills. Figure out how much you have coming in and how much you have going out. If you have more going out than coming in, reconfigure. Go basic on cable, "increase the deductible on your car insurance to lower your premium, and refinance your mortgage" if there is a better deal available, Small says. Also, don't be afraid to call your creditors and tell them you have a "financial hardship." Ask to arrange a lower payment plan without penalties. The key is to call before you get into trouble.

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Is that negotiable?

Whether you're buying a pair of shoes or a flat-screen television, always work to get a better deal. Here's how:

Compare prices at comparisonshopping.com.

Get at least three quotes and allow the retailers to educate you about what you're buying.

Know exactly what you want (make, model, model number, price).

Ask the savvy-shopper question: Is that the best deal you can offer? Then wait for a response.

If you don't like the deal, walk away.

[TANISHA SYKES]