The current state of the economy is taking a toll on everyone. The stock market is falling regularly, the housing market is not improving as predicted, and people are losing their jobs on a daily basis. Prices at the gas pump and the grocery store have soared to new heights and no one can afford the standard of living they had just a short while ago. Everyone is trying to cut corners, but there is just so much you can do without. The mortgage needs to be paid; the car needs gas to take you to your job, if you are lucky enough to still have one. Groceries must be purchased and I’m sure everyone is scouring cookbooks for many of those inexpensive recipes we always resort to in hard times.

All of the above, combined with the various other effects of our current economic crises, is causing people to have serious stress issues. Anxiety over this financial situation is natural and we are all doing our best to cope. The best thing we can probably do is face it, deal with it, and move on to the rest of our lives.

It has been suggested that we set aside a specific period of time to consider your options. Do not dwell on this subject continuously.

Try to remember that our country has been here before and survived. The market has repeatedly recovered over the long haul.

Concentrate on finding relaxing activities that will not cost money. Consider things like a “family game-night”, picnics in the park, or a visit to the local library for books and movies for the entire family. They also offer free programs for both adults and children, so pick-up a schedule of events on your next visit.

By compartmentalizing your stress, you leave yourself time for relaxing and anxiety-free activities. Allowing the stress to take over your life can result in health issues and possibly even marriage problems. If we work at dealing with these problems in a mature manner, we can survive these times and possibly form an even stronger family bond.

It is very sad to realize that women live longer but have much less in retirement savings and often have to continue working. Most have not prepared well for their retirement and many never had the opportunity to save for it.

Women, in general, have fewer savings than men, but live longer. They are twice as likely to die in poverty, most especially if they are divorced or a member of a minority group. Marriage problems have caused major setbacks for many, leaving them totally unprepared for their golden years. The number of female workers 65 and older is increasing twice as fast as that of older men. Statistics are predicting a 147 percent increase in the number of women 80 years old or over who will be employed in 2016. Here are some of the reasons for this large increase in elderly female employees:

Over their lifetimes, women in our country have worked for pay twelve years less than their male counterparts.

The median average wage of working women is approximately $10,000 per year less than for men.

A recent survey result states that more than half of working women say they cannot afford to save anything for retirement.

The average life span for a 65-year old woman is approximately 85, while a man should expect to live until 82.

Fewer women have pension plans available to supplement their social security income.

Women are terribly concerned about their finances, especially as it relates to their senior years. Many have already experienced poverty and, although they are working hard, they are unable to get ahead. Some know very well how horrible it feels to have to put off health care and go hungry and are frightened by the future they see for themselves.

Times are difficult right now and many people are finding themselves dealing with bill collectors for the first time in their lives. Sometimes debt even results in marriage problems. Be prepared. Debt collectors are not nice people. They are paid to be tough and give you a hard time. Do not be frightened. Instead, stand your ground and realize that you are not the only one receiving this treatment. You, too, have rights and be sure to exercise them.

Do not provide personal information to the caller. Realize that you are not speaking with the organization to which you owe money. This is a bounty hunter attempting to earn a small percentage of your debt. Treat them as such.

Understand the possibilities. The debt collectors do have the right to contact you by mail, phone, or fax at home or at work. They are only allowed to attempt to reach you during the hours of 8 am and 9 pm. They have the right to ruin your credit rating and could take you to court to garnish your wages.

Do not allow these people to intimidate you. They must meet certain standards. It is illegal for them to threaten physical harm or arrest. Obscene language is forbidden and they may not intimidate you into thinking they can take your property. To assume your property rights, they would require a court order.

Never pay money you do not owe. Frequently, debt collectors have old information and are basing their calls on this. If you do not believe you owe this money, or if the amount is incorrect, dispute the claim in writing. If the debt being collected is an old one, remember that there is a statute of limitations which differs from state to state, but usually runs three to six years. A collection agency who tries to collect an old debt is breaking the law. If you agree to pay even a small portion of an old debt, this may reaffirm the debt and require that you repay it in full. Do not pay any portion of an old debt unless you are prepared to pay the entire balance.

If you feel that a debt collector is acting unfairly, you can file a complaint with the Federal Trade Commission or your state attorney general’s office.

Layoffs are occurring in record numbers and finding a new position is extremely difficult and can sometimes take more than a year. Employers know they have the upper hand in this economy and are prepared to flex their muscles if they deem it to be necessary. We’ve all seen many mass cutbacks in employees and must realize that at any time this could happen to us. We also must remember that anytime you lose your job, you generally will also lose your family health insurance. Although COBRA is always a temporary option, it is very expensive, therefore, keeping your health insurance is of the utmost importance.

In order to combat the sluggish economy, it is particularly important that we focus fully on our jobs and do not allow ourselves to show any negative actions to our employer.

If you have a seriously ill partner, please let your employer know. By acknowledging the problem, he may make allowances for extra absences, etc. If there are marriage problems, he should also be aware of this.

Do not spend time surfing the web or shopping online. Use the computer for business purposes only.

It is always a good idea to leave the office at least five minutes after your boss. He will get the impression that you are always working late.

During this job depression, be sure not to take very long vacations. After all, they might decide that you are not really necessary if the others are handling your responsibilities satisfactorily.

Be extremely conscious of the fact that you always want to look busy.

If you do get a pink slip, consider negotiating your salary. This may be a much better option than losing most of your income, losing your benefits, and then having to spend possibly the next year looking for a replacement position. If you are turned down for this request, it may really have been your job performance that caused your termination instead of just financial problems.

It has become necessary to carefully review your credit bills and the notices contained therein. Even after doing this, you are still in danger of risking your financial standing. It is up to the individual to constantly be vigilant about following up and confirming credit limits and interest rates.

A current trend with card issuers is that they are arbitrarily reducing the credit limit on cards and, frequently, not even advising the cardholder that this has happened. It would be nice if we had safeguards in place to keep this from happening but, apparently, we do not. Yes, they are entitled to reduce your credit limit at will and not even legally responsible to advise you. Some send notices that are included in those fine print inserts we receive with our bills. Others just change the amount on your statement and assume that you will notice it. Many of us, of course, do not. It’s amazing how when they want to get you to be their customer, they send you all types of beautiful promotional key rings and promotional mugs, but once you become their customer they don’t even feel important notices are important.

There are many consequences that can result from a reduction in your credit limit. You can be denied when attempting to make a large purchase. Even more upsetting, is to be approved for going over your limit for which you will be charged a fee, possibly as much as $36. Once you’ve gone over your limit, your interest rate will frequently be adjusted upward. This can happen with all of your outstanding debt, not just this particular card. By lowering the ratio of debt to available credit, your credit rating is in danger. A review will possibly lower your score which results in higher interest charges on both current and future loans. It is even possible that you could be turned down for employment as many companies routinely check your credit ratings before offering you a position. Debt can frequently lead to marriage problems which brings just more trouble into your life.

There are several things you can do to stay on top of this situation.

Verify your credit limit with the issuer, especially prior to making a large purchase.

Get your free credit report annually and also request your credit score, which will cost a fee. Monitor these closely as you want to be certain that all information is accurate.

Be certain to keep your outstanding balance at 50% or less of your available credit limit. Anything higher makes you look like a greater financial risk and will result in a lower credit score or higher interest rates.

Make it a habit to pay your bills early. Even if there is a mail delay or a processing delay, you will still be on time thereby avoiding any late fees.

By keeping a sharp eye on your financial situation, you will maintain a good credit rating which will be a savings to you in the long run.