DON'T PANIC!! Surviving the Economic Crisis

Confused about our current economic crisis? Don't be embarrassed; you're not alone.
It's a tangled mess of bad decisions, criminal negligence, and the resulting domino effect. It involves obscure financial rules and arrangements, and was initially hoped to be limited in scope. The truth is clear, however.
It's not over. In fact, it's going to get worse.

Here's a timeline of how it all broke down:
Wikipedia: Subprime Crisis Impact Timeline

Everyone's wondering what's next. As I wrote about a couple of weeks ago, the accounting industry is largely recession proof. But, no industry is isolated unto itself. It's important to recognize that as each domino falls, another one starts to teeter. That is to say: We're all in this together.
As we prepare for the most economically difficult time in a generation, it's obvious to me that a huge number of people are grossly uninformed when it comes to financial matters. It's really important to understand investments, money, and fianance in order to ensure that we are protecting the well being of our families and ourselves. With that in mind, I recommend becoming familiar with the AICPA's financial literacy program.
Through this program, you'll learn to set a budget, save money and most importantly to spend what you have wisely. You'll also find the tools you need to help your children, or younger siblings learn the importance of financial literacy.

http://www.feedthepig.org/

Until the dust settles from this fiasco, the only financial instruments you can really count on are cash and bonds. So, learn to save. Play conservatively. Invest in your future by adding to your earning potential. And DON'T PANIC!