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I am not a finance guru. This post is not expected to make you money, save you money, or fix your situation. The current economy is hitting everyone in varying degrees. Where it definitely hits us all is emotionally as well as financially. The best suggestions I can give you are threefold.
First, cut your expenses and save what you have. There is no way to know how long things will stay slow. Now is not the time to be planning major financed purchases (unless you enjoy a significant financial comfort and can take advantage of a very low stock investment entry, buy up very cheap real estate, or capitalize on tax advantages in capital purchases). For most of us, now is a time to make the car last a little longer, to put off updating your wardrobe, and to hold off on acquiring more debt.
Second, protect your income. If you have a job, stay on your boss's good side. Put forth extras effort to shine in the eyes of your supervisors. Spruce up your resume, and keep an eye open on jobs that could become available should your company decide to downsize. If you have the ability, look for a second revenue stream to your house. A part-time job, or a very low overhead home-based business can pad your bank account should something happen to your main source of income.
Third, and likely the one most in your control, protect your emotional self. In times like this, either you, or someone close to you is suffering or worried. Worry, anxiety and stress kill more than just your mood. The stress can affect your health. The negative thoughts can block positive effort. If you are a person of faith, spend time in prayer or meditation to connect with your faith. Whether you are a person of faith or not, reconnect with friends and family. Not only are these people a support group for you, but they are a part of your network. Your network is a source of ideas, information, opportunities and sometimes help. Whatever you do, DO NOT hole up in your house and hope it all goes away.
Hiding from a problem is rarely the right thing to do. When life becomes a storm of trouble, you must be aware of what is going on, and what you can do about it, hiding in a hole only works when true danger is upon you, like a tornado. If you had been keeping your eyes and ears open, you might have seen or known of the tornado before it got to you. So, just because it is stressful, don't avoid it. Plan for it. That way, should the worst come your way, you have a plan.
If the "worst" has happened, don't give up. There are resources available to help you. Bankruptcy laws can fix debt issues and still protect a basic financial platform to start over from. Typically, a bankruptcy will protect your home and your ability to get to and from work. Social services are very stressed, but there are some resources available to help you in small ways for a short term. When things are bad, you have to tell yourself you can survive this. You have to be able to look at the "worst case" scenario and see that even if your worst nightmares come true, you can survive. Debt alone never killed anyone! The loss of a job is traumatic, but it is not truly the end of life. You life may not be what you had planned, but you will still have a life. When you feel stressed to the point of panic, stop and take a breath. Tell yourself you are in a panic, and need to regain some composure. Remind yourself that you are still breathing, that in this very moment you likely have access to water and some food. Remind yourself that your loved ones are not going in immediate danger. Tell yourself it is a problem, but that right this instant, nothing final is happening that ends all hope for the future (no matter how distant that future hope may be). Once you have calmed yourself, then se a plan for seeking help, advice and to tackle your problems.
To sum it up, in times like these, you must ration what resources you have to last you as long as possible, you must be open to possibilities that can make your situation better, and you must take care of your emotional self. If you do this, you WILL survive.