This is a tough article to write this week, fellow Bermuda Islanders. Across the pond, the economic news from our neighbours is bad. Economic vibrancy and related indicators are not what they were here, and certainly not where they should be.

After countless media discussions, denials, spin doctoring, partial facts, slanted projections, and double speak; we know that all is not well in paradise.

Various obfuscations (see description below, I love this word - it is so hard to understand that you know it means talking about stuff in jargon that no one knows what you mean) regarding the numbers of those who have been made redundant, the list and types of jobs that no longer exist, the numbers of guest workers that have left the Island, the reduction in work permits, and most importantly, information on an recovery financial plan (any plan) to generate new revenue and new jobs remains just that - elusive.

We do not really know what to expect, which creates uncertainty, which creates individual anxiety. We need a country economic plan.

Some of you have lost your jobs, or out looking for additional work to prop up your family resources. I encourage you not to give up. I know how it feels - to lose jobs as it happened to me during an earlier recession. Do not lose confidence in yourself.

For those of you who are worried about losing your job, this uncertainty is a wake-up call to get your finances in order.

So rather than discoursing about the latest bond investment, or a mutual fund investment prospectus that, not only are you not going to read, but should not be considering allocating precious financial resources to if your primary income sources are uncertain, let us review what you can do to survive in this environment.

For starters, I've provided prior written articles / resources from Moneywise on redundancy planning for a recessionary environment. I am dismayed to realise that here we are in 2010 while I wrote this advice as early as 2007 that Bermuda resident employees needed to think seriously about probability of redundancy. It is never a good feeling to be the predictor of negative news.

Financial survival planning in detail can be read on two prior articles in Moneywise. Go to the Royal Gazette archives, - see Moneywise articles dated July 19, 2008 Redundancy: What you can do to prepare for the unexpected. (http://www.royalgazette.com/rg/Article/article.jsp?sectionId=65&articleId=7d879b330030006)

July 26, 2008 - What To Do If You Lose Your Job - 8 Key Steps To Getting Over Redundancy (http://www.royalgazette.com/rg/Article/article.jsp?sectionId=65&articleId=7d87d3b30030001)

Just a few steps. Try to take these steps consistently, but gradually. You may already be experiencing stress; thinking of anything financial only ramps up the blood pressure.

1. Hoard cash - figure out exactly how much you need to survive on a monthly basis. That means survive, not credit charges, or shopping. Survive means necessities only. If you find that you don't have much of a cash cushion, say at least six months but preferably a year of monthly survival cash, then go to step two.

2. Convert to cash everything you don't need. For further help in reducing your cash outflow, be honest. Is it stuff or something that will truly help you obtain a better job? So, unused electronics, too expensive a car, excess clothing, shoes, jewellery, furniture, you name it, convert it to cash. There is a market for everything, just browse eMoo and like websites.

3. Maintain your physical fitness activity, in fact, step it up even more, it will get your blood pressure down and lift your spirits.

4. Upgrade your educational opportunities. Read, read, read, study and upgrade your skills in your field anyway you can, starting with free. You will need these skills more than ever.

5. Downsize, minimize, share resources, consolidate with your family. No, it won't be easy, and yes, there will be complications, but where else can you receive and give that unique solidarity in the face of adversity.

6. Ask for outside help. Jobs are created by doing business. Revenue flows into businesses when companies produce products or service that consumers (and other businesses) want. When you are sure that you are doing everything you can on a personal basis to operate your contingency plan while you look to obtain another job, you need to assure yourself that your local constituent representative is doing everything in his/her power to help your district. Give him or her a call. Ask what his/her forward plans are for re-invigoration of this economy and generation of new jobs.

7. Consider immigration - that is, if you have the right to cross borders, legally. Some have done so, according to local media, possibly more will consider the unthought of, following the dream out of their homeland as immigrants have done for thousands of years. They seek better opportunities, affordable education and housing, larger economic job pools, stable social infrastructure to provide health, pensions, and the governmental impetus to compete globally for new jobs as the economy rebounds.

For further motivation, if your budget is already restricted, and you have the time and energy, consider taking the 100 Things Challenge on the unlikely website: http://www.guynameddave.com/100-thing-challenge.html

Dave Bruno, who has received global attention on his personal quest, decided at the end of 2007, that he would fight free of consumerism, instead of being stuck in stuff. He set a goal of whittling his possessions down to no more than 100 things. Take a look at his 100 Things list on his website and see if they might match yours. He found that in his life and those he knew, 80 percent of what we own, we never use, instead returning again and again to that 80/20 rule, 20 percent of what we own, we use 80 percent of the time.

Our local retailers, already hard pressed, may be uncomfortable with this concept, thinking that it is an encouragement to restrict personal consumption even more. That actually is not the case.

The author advocates quality over quantity, with a few simple rules.

• The first principle is to spend our money well, which from here on out means to buy less stuff.

• The second principle is that it is good to save money and invest.

• The third principle is to love people, not things. You'll buy less stuff and make the world around you more joyful.

We are all hoping for things to get better in our economy. Hope, however, is not enough. Some pray for Better days. Prayer does work so many firmly believe, but so does being proactive. Combine all three, please.

Obfuscate explanation: To totally obscure with non-germane information in a verbose manner, with the intent to provide a non-answer, and provide total befuddlement, i.e. any politician worth his salt is an artist in obfuscation; government bureaucrats are masters of obfuscator behavior.

If any readers are not able to find the two financial survival articles, please write to me at e-mail below and I will forward to you. Please let me know how you are surviving.

Anyone with personal questions on financial survival planning can send me a confidential e-mail. I can share your situation (with your permission and anonymously, of course) with readers or reply to you alone confidentially.

Martha Harris Myron, JP CPA, CFP(US) TEP(UK) is an international Certified Financial Planner™ practitioner. She specializes in independent fee-only cross border investment, tax, estate, and strategic retirement planning services for Bermuda residents with cross-border and multi-national connections, internationally mobile people and US citizens living abroad. For more information, contact martha.myron@gmail.com">martha.myron@gmail.com or 296 3528 at Patterson Partners Ltd.