Even as the economy shows a few glimmers of improvement, most economists expect some continuation of job, pay and benefits cuts to continue throughout the year. What can you do about these changes, even if they're still in the rumor stage?

Hold a family meeting: Talking about money issues is a delicate balancing act between teamwork and fear, but there are already plenty of TV commercials showing Dad or Mom losing their jobs and kids rising to the occasion. As awful as economic circumstances are, there's a spirit of teamwork in the air, and families should harness it. Sit down, discuss what's going on, and solicit suggestions on the best ways to conserve excess and luxury spending, save more money on essential spending and find an appropriate treat for everyone when trouble lessens. And if your kids are working age, let them get a job to help with their expenses as long as it doesn't affect their schoolwork.

Get some advice: Don't wait until a crisis descends to get some useful strategic advice. A certified financial planner professional will be able to help you with spending issues, and they will also be able to help you shore up your retirement investments if your company decides to alter its traditional pension plan or cut or eliminate matching contributions to your 401(k).

Create a spending plan and stick to it: Whether you build a plan in a family meeting or in front of a computer screen by yourself, it's time to budget. Analyze every cent of spending. Build your spending plan, starting with essentials such as the mortgage or rent payment. Add discretionary expenses which are those for which you have the ability to choose the timing and the amount to spend. There are essential discretionary expenses, such as food and non-essential expenses such as movie tickets. For each expense item, ask yourself: "Can I do without this? Can I postpone the purchase?"

Work at cost-cutting without changing your lifestyle. It can be done. For example, do not renew subscriptions for periodicals that you don't read. Not only will you save money, you will reduce clutter. Do include regular contributions to your 401(k), IRA and or/other savings. Do your best to live by the plan. You will most likely discover that you have to make adjustments over time. However your main goal needs to be to live within your income. And, when times are better, do one more thing - see if you can still stick to that plan, so you can accumulate an emergency fund and additional savings. You'll be in a much better position when the next downturn occurs.

Plan your shopping trip: Make a list of what you plan to buy. Clip coupons for your planned purchases. Plan your route for your shopping to save time and gas. Once you are in the store, buy only what is on your list. Do not buy on impulse. Keep in mind that you do not "save" money by buying things on sale or using coupons for things that are not on your shopping list. You are spending more money than planned.

The one exception to this rule may be purchasing non-perishables in quantity that you use regularly. For example, if your brand of toothpaste is on sale 2 for the price of 1, it may be a good idea to take advantage of the sale. Even so, you should not exceed your planned expenditures for the month, or you may not have the funds to pay next month's rent. Leave your credit and debit cards at home. Take only the amount of cash that you plan to spend, no more. This way you cannot overspend.

Renegotiate what you're paying for insurance: If you have an emergency fund, raise your deductibles on home and auto insurance so you can save on premiums. If your car is old, consider dropping that collision coverage and make sure you have your policies consolidated with one carrier because that can save you money. Ask your insurance agent if you are getting the best coverage for the least amount of money. One more thing to consider: Do you absolutely need that extra car? Selling it and car pooling or shifting to public transportation can save you thousands a year.

Start haggling over bills and fees: Sick of that cable bill? Either cancel it or tell your provider you're going with a competing satellite or phone-based TV network and see if you can get a lower rate. Start pre-shopping all purchases online, and if you buy online, use discount codes to save money on your purchase and on shipping. Wherever you buy a product or service, make it a policy to see if there is a less expensive way to do the transaction. The worst thing the merchant, company or professional can say is "no," and you can choose whether to stick with them or go elsewhere.

Refinance your mortgage: While rates are still relatively low, lock in a rate cut of a percentage point or more and lop at least $200 or more off your monthly payment. Be sure to factor in fees and costs required by the refinancing before proceeding.

Downsize your home: If you can sell your current residence, this might be a good time to downsize into a smaller home that gives you more equity and a lower mortgage payment.

Start buying used: Can you really tell whether someone wore that blouse that originally cost $300 that you picked up for $15? Are used DVDs that much harder to watch than new? Start getting familiar with Internet auction sites, local flea markets, consignment shops and thrift stores to find ways to stretch a budget farther.

Plan a job search: You might absolutely love where you work and are willing to be a team player toughing out the downturn. But fortunes can deteriorate as well as improve at companies with severe cutbacks, so it's wise to spruce up that resume while you have time to think about it and start networking just to see what's going on in other parts of your industry, your city, or possibly in other cities. And if you can do it quietly, start lining up respected professionals to provide references.

This column is produced by the Financial Planning Association, the membership organization for the financial planning community, and is provided by Maxine Johnson, a local member of FPA. You may contact her at maxinejohnson@comcast.net.