Financial Coping Strategies for Tough Times -- Part One

In tough times, blended families, along with every other segment of the country, will likely experience the negative impact of the collapse on Wall Street. No one is immune to the fallout that has caused the federal government to step in with a multi-billion-dollar bailout to stabilize financial markets and prevent a complete collapse.

While banks and other monetary institutions will avoid complete ruin with the bailout plan, the same is not true for many ordinary families experiencing the personal anguish of financial strain and powerlessness, that anxious feeling of loss of control over a situation you did not create and you are powerless to correct. The result of the crisis for many families is generalized stress as people are threatened with foreclosure, ballooning mortgages, job loss, rising gasoline prices, home heating oil, food costs, as well as monthly bills and credit card debt. Blended families face increased pressure as they finance dual households and child support.

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