Survive and advance is the theme for the economy-ravaged among us

Bernie Madoff. AIG. Chrysler and GM. Investment firms. Wall Street. Banks from north to south and east to west.

These are the contemporary buzzwords for an economy in turmoil. The sound of panic and dismay is deafening.

Haven't we all been here before? Experience should be the ultimate guide as we meander down this path of uncertainty.

Armed with a communications degree and four years of participation at the campus radio station more than 30 years ago, I wandered into a job market that was less than enthusiastic about my credentials and even less accommodating. It wasn't until four long and largely fruitless years had passed that I was able to secure a ground-floor position in a public-relations agency that eventually led to a viable career.

During those four years more than three decades ago, I learned the strategies of streamlined living. Consider that, for a year and a half during that period of time working as an apprentice promotion executive for a record label, my salary was $75 a week. One can imagine my budgeting crises.

So when the housing market came tumbling down, I began to brace for impact. Like many others, the once-politely described economic downturn took an immediate bite out of my company's business. Funds became scarce, and my life in Eastchester, N.Y., became more difficult. I'm thankful for a wife who is a tenured professor; without her, the challenge might have been more daunting.

The key to managing any crisis is to stay calm. Having experienced this feeling before, I was certain it could be overcome.

First, I calculated my fixed costs (mortgage, child's tuition, utility bills, insurance, etc.) and estimated a figure that I would need to approach to live comfortably, if without frills.

Then, I reduced my 401(k) contributions to zero.

I shaved entertainment funds by 20 percent. Frankly, I like pizza as much as, if not more than, almost anything else more expensive. Family health club memberships? Let's dust off that old, noisy treadmill we bought years ago. The regional vacation became the local vacation. I was bridging the gap, which actually started as a canyon.

When I completed the trimming, I began to devise plans to enhance the budget by pursuing freelance writing assignments. Although not especially prolific, it does contribute to the bottom line. And, importantly, it reinforces the spirit. I at least believe I am addressing the issue proactively.

While I grope with uneasiness through this process, I have arrived at an undeniable realization: There is an unambiguous liberation with a simpler, more-economical life. The expectations decrease. Wonderful and memorable moments occur even while you watch every dime. And there really is no way to know what tomorrow will bring. Quite literally, while writing this only moments ago, my company lost another major client to the economy.

Looks like less pizza, no vacation and a third job. Keep smiling! It can't last forever.