Daria: The hairdresser is getting my hair cut the other day and a lady was sitting there she was talking, she was getting her colored and I happened to be sitting close by and I was waiting for my gal to get the scissors out and get going. And she was talking to one of the other operators there, one of the stylish and she said “I'm scared, I'm really scared” and this was a woman at her 60s. She said, “we've lost so much money in our portfolio and my mother who is still alive who was in the depression said you haven’t live until you’ve seen what a depression will do and that my brothers and I really have no idea what we’re in for” and she was just a nervous wreck.

So we all need to take a breath to survive this economic crisis. Make a mistake it’s a crisis so have a laugh.

Ken: Yeah we’re going to talk about surviving a financial crisis with a little laugh. Steven Colbert on the Colbert report said, “Don’t panic. The only Americans who have to be concerned are those who own a home and get paid in US dollars.” It’s nice we can laugh. Americans are famous for laughing at adversity.

But what are some of the steps we can take now to feel more comfortable in the difficult situation. And I'm going to tell you be prepared, it may get worse before it gets better. We’re not here to throw cloud over everybody but for 22 years we've been talking to Americans on radio and TV and etc we’re telling it to you straight these are very difficult times but don’t panic, react. Don’t put your head on the sand.

Daria: No, no, no act not react. Be proactive, don’t wait until something happens then force to react. Always better off to be proactive. It’s like putting boards up on your windows before hurricane arrives you don’t do it after the fact or stand on the inside trying to keep your doors from blowing.

Ken: All I buy that. Maybe one way is not to throw my bank and broker statements on the bureau and say I'm too scared to look at them. Because all of a sudden it’s too late and I'm reacting which you say is act open it, where do we go from there. It is what it is.

Daria: Make your money work for you and right now whatever money you still have left should be in cash and cash equivalents like money market accounts and money market mutual funds.

Ken: Around 3% FDIC insured, not the greatest in the world but some money market accounts around 3% check at your local banks not bad. Even two year CDs around 4%. You got to shop around.

Daria: And the guarantee and the worse that’s going to happen is inflation take a bit a nip out of it because definitely inflation is definitely going to kick and with all of these money that they are creating. But the fact of the matter is the old will arrive you're saying which by the way happen the last time in my opinion we had a serious financial situation as we currently do. And when we’ll arrive you said it’s not that I'm worried about a return on my investment it’s the return of my investment.

Ken: I don’t take that after I see insurance.

Daria: No they didn’t I was a creation from the depression.

Ken: Couple of things, spend less than you earn you're going to need it cash is king. If you're not working and not retired or even retired and working part time learn more skills not another job, learn how to do in your company where you're working. Learn how to do more than one thing because if things continue to get bad people will leave the ones that can only do one job, diversify.

Daria: Yup be the go two person wherever you work whatever you do. You have teenagers at home. Don’t get thrown this is really is important I think. A lot of teenagers today have never heard their parent say, “No we can't afford that, no you can't buy that.” And it’s a sad situation because we’re in the process of creating whole new generation of over spenders here.

But a lot of parents of teenagers are now being force too because the reality is they don’t have the money anymore nor they have the credit to get a loan to do whatever the child is asking for. And teenagers right, left and sideways are going into total panicking shock and some of them are getting surly and problems in the home. Sit your kids down. You’ve had a financial reversal, maybe your job has been cut, your hours had been cut, the money isn’t coming in, you’ve lost money in the stock market. Sit them down let them know what's going on.

They're teenagers for crying out loud. You don’t have to cuddle them. If you can make them understand and contribute in ways that the family can cut back on things to stay on track you will earn their respect and their help rather than having a surly kid in their room with their gameboy, their computer and everything else and Nintendo and padding you.

Ken: By the way Daria and I will be doing some speaking next year and the reason I'm bringing it up and not just tell everybody just because it is sort of a last point and that is always be prepared for the unexpected. The title of our talk is No surprises ever again. How to survive and thrive during difficult times? We might see you around the country at the club or an organization or a corporation or whatever. The reason I bring it up is because this is the last one. Always be prepared for the unexpected.

Daria: Not it isn’t we have one more Turn off business cable news.

Ken: No more appearances for you.

Daria: First off you got people from the industry that got us into this mess telling you everything is okay now and for heaven’ s sake stop everybody thinking that Warren Buffet is the be all and end all for everyone’s economic problems. Warren had an APED piece which was written about in the times which he said, “Now is the time to buy equities.”

Well Mr. Buffet has all the money and all the time in the world to weather whatever gets thrown at him. Unless you got Buffet’s billions be careful.

Ken: Remember you said I’d like to do a less television appearance. I get a little tired.

Daria: I just finish that didn’t I?

Ken: You're finish on television. We’ll be back.