The President interrupted "The View" today to discuss some major changes that are being enacted effective immediately to help Americans on the financial front.

This cause for alarm is because our economy is about to take a seriously sharp downturn. There are many issues he raised: the sharp decline in the housing market and people going through foreclosures, a steady job growth and consumerism, and the price of oil escalating (and there is not going to be any relief in the cost of oil, it will continue to escalate at extremely high numbers).

A serious tax relief is going to be enacted immediately through 2010, but don't think that will solve all of our problems.

President Bush tried to avoid using the word "recession." For those who do not know what recession means, it is a sharp decline in the economy. The worst decline the US has ever suffered was the Great Depression.

So what does this mean beyond tax reliefs? How can you help the economy avoid a recession? Well, first, more money is going to be coming to our pockets due to tax reliefs across the board (not only for individuals, but for businesses, as well). Believe it or not, consumerism is a huge part of our economy. No, this doesn't mean you should take your tax check and buy a new car. This means it's time to get smart about money and your future.

1. IF YOU DRIVE A CAR. The price of gas is going up dramatically. For those who live in or near big cities, we have the option of not purchasing cars and taking public transportation. For those who live in metropolitan areas, avoid driving and take public transportation. Keep the driving to the weekends to run errands (if, at all possible, try to do your errands without a vehicle...I do!). For those who live in rural areas, try to see if you can start a buddy system with other co-workers to carpool in together to try and cut down the cost of gas. Also, try moving closer to work or finding a job closer to home.

There are other methods besides using vehicles to get around, such as walking or riding your bike. It would be great for your health in the long run to consider these non-toxic, cheaper measures. When I started walking to work, it took 2 hours each way. I lost twenty pounds in no time just walking 2 or 3 days a week.

If you must drive, consider investing in a hybrid car. If you think you can't afford a new car, add up how much gas costs for you using a regular car, as well as the insurance. Do a cost comparison. You just may end up deciding to trade in the gas guzzler for a hybrid. My brother did and he doesn't regret his decision one bit.

2. HEATING THE HOME. This is where educating yourself on what environmentalists do may help you out in the long run. Turn down the heat during the day when you are not at home. Only have the heat on at 68 degrees when you are at home. Also, many gas companies have plans where you can spread out the cost of your heating bill throughout the year. Spending about $165/month instead of a bulky $600-$700 bill every winter month is much easier on the pocketbook and less stressful (keep in mind...Christmas is in the winter and you could use that money towards gifts).

If you own a home, consider having solar paneling installed on your home or using other forms of power (like hydroelectricity or wind power). It will save not only our environment, but it will help develop better, more available resources beyond oil which is quickly depleting.

3. CLIP COUPONS. Most grocery stores in the country double coupons up to 99 cents. Find out what day your grocery store doubles coupons. Clip coupons and take them into the store with you on double coupons day. There have been many stories about how people have purchased $135 worth of groceries for about $7. It is no joke. My aunt has witnessed someone buying a whole cart of groceries for only a few dollars. She said it was unbelievable.

It only takes a Sunday morning to clip the coupons and run through the grocery stores' latest ads and start planning your shopping for the week. Remember, that ad runs through Saturday! I've already started going around using coupons just to get free stuff. I got a bottle of Bayer aspirin for free at Rite Aid the other day...and that was without doubling the coupons. Just check the ads and compare your coupons to the ads. There is a lot of stuff out there you can get for free!

4. INVEST IN STOCKS. One great way to start putting money back into America is by investing in stocks. I strongly recommend doing this through an IRA account. I like to manage my own stocks and invest only in companies that I buy products from or use their services. I only buy clothing from companies that I can invest in. I do my best to go to the movies (and promote the movie amongst friends) when the company I've invested in has released films. To add to the effect, I buy a copy of the movie and give it away as gifts. One of the best ways to get started in an IRA that you can control, is to try E*Trade. I don't like other people managing my money. I just don't trust them. No one is going to care more about my money than I do. I'd rather be the sole person in control. Of course, you need to educate yourself on what stocks to invest in. I keep it simple. I invest in only things I use on a daily basis (like food, clothing, electricity, etc.) and invest in some international companies that the rich like to invest in that are more stable like natural resources (gold, oil, etc.). Spend some time reading Forbes and Fortune magazines. If the rich people read it and can share their investing secrets, then why can't you do the same? Those two magazines have never did me wrong!

5. BRINGING IT FULL CIRCLE IN INVESTING/SHOPPING. I like saving for the future, especially when I'm spending my money. Even if you don't have children, you can sign up with UPromise. Connect your credit cards, drug store cards, shopping discount cards to your UPromise account and watch your spending over the years add up in SAVINGS FOR YOUR CHILD'S EDUCATION. This is what I call your money coming back to you full circle.

When you shop at select restaurants and retailers (believe me, the list is long and you probably already shop or eat there), a percentage of what you spend is deposited into your UPromise account by the company. A lot of times the savings only work if you shop through the UPromise website that leads directly to the retailer through a link. What is also nice about shopping through the link on UPromise is that they have special discounts for those select retailers which are only exclusive through UPromise...so you end up saving more money.

I've used my credit card at a random restaurant in Indianapolis once, only to find out the next month that I earned a few dollars from the meal towards college savings. Even if you don't have kids, I'm sure you'll know a friend or family member who does. Just ask them to set up a UPromise account (if they haven't already) and you can donate a percentage of the savings to go directly to them. I already have a couple of friends signed up under me who get a percentage of my savings each month. With the rising cost of education, every little bit helps. UPromise will help you learn more about investing those savings in a college plan (called a 529 College Plan).

6. TRAVEL. For those who like to travel, I have become a lover of earning miles without spending money. I've been using a site called www.e-miles.com [1] to earn miles by taking surveys. It only takes about 5 minutes of your time. Basically, you see an ad for a retailer (like Circuit City, Best Buy, Nordstrom, etc.) with exclusive deals and sales. You have a choice of whether to go ahead and shop online to earn more miles (sometimes you can spend $500 and get 500 miles), or just skip the ad and go directly to the survey. Each survey you do nets about 5-15 miles. Like I said, the total time to take all of the surveys featured each week takes about 5 minutes. You can rack up 500 miles in no time! All you have to do is connect your frequent flyer program with your e-miles earning power and you are all set to go. It costs you nothing but a few minutes of your time each week.

7. WATCH YOUR SPENDING. What has gotten America into a lot of trouble is SPENDING. I don't believe in amassing a lot of consumer goods. What I do believe in is spending my money on qualitative items that have been tested and true and will last for many years to come. Sure, I do buy high end clothing, but I also know where to shop (Loehmann's, Filene's Basement, the sales racks at Lord & Taylor and Macy's).

I used to buy several pairs of shoes when I was sitting around in Lord & Taylor with my friend. Over time I realized that they look cute on the rack, but on my feet the pain is not so cute. After discovering I had about 15 pairs of designer shoes that I had either worn once or not at all, I decided to put them up on Ebay and don't regret one bit that I did so. Designer clothing and accessories are easier to sell on Ebay than a cheaper no name/no label item. Also, shopping on Ebay can net you some great deals. I've picked up a pair of Prada shoes for $35.

After doing much research in the designer shoes department, I found that Cole Haan has come out with a pair of heels that are made with the Nike Air technology (so the heels are supposed to feel like you are wearing sneakers). Upon doing further research, the shoes can cost upwards to a little under $400. Like I said...I know where to shop. I went to my favorite discount online retailer (www.smartbargains.com [2]) and found the shoes between $120-$175. That's about how much I spend on 2 pairs of shoes that I will never wear. If I buy one qualitative pair of shoes that will not hurt my feet and that I will end up wearing on a continuous basis, I have actually saved myself a lot of money (and pain) in the long run. This is about being a smart buyer. Sure, I still shop at Payless Shoes Source for the shoes that I will wear on the streets of Manhattan, because I am known to walk around wherever I go instead of taking a cab or the train. I'd rather run a hole through Payless shoes, not a pair of Cole Haan shoes! Believe me, if I could, I'd walk around in Speedo sandals for the rest of my life, but sandals are not really conducive to the cold weather.

American consumerism has always been about MORE IS BETTER. I prefer to live a little simpler than that. I like good, qualitative things. I don't like bulk, or too much crap! Too much stuff can actually stress us out in both our living conditions and our wallets, not to mention relationships. I've always believed that money was better spent spending time with family and friends, whether it be a hockey game, a night out at the movies, or dining out at a restaurant. Making memories are the things you take with you when you die, not the material goods.

8. DON'T BE AFRAID TO BUY USED. Ok...a little secret I have that most New Yorkers that know me would be flabbergasted by...I shop at Goodwill and Salvation Army. Believe it or not...I love shopping there! You have to have a lot of patience to shop there. I usually make it an adventure. First, as you know, the money goes to a good cause to help people! Second, you can save a ton of money this way. A lot of times you can find items that still have the tags on them. I found that Target actually donates a lot of their clothing and items that don't sell to the Salvation Army and Goodwill. I've found so many household goods and clothing items direct from Target for a fraction of the Target price (and Target is already cheap, as is). I make shopping at thrift stores an adventure to find the perfect outfit from head to toe for less than $30. Believe me, it can happen.

I've also found some of my most cherished furniture at these stores. Why spend $500 on a side chair, when you can spend $10 on something vintage that actually matches your decor? I have a passion for vintage and antiques. I've also done a lot of my home decorating in these stores. When you watch HGTV design shows...they're always talking about these kinds of stores when they pick up their furniture pieces. You just never know what you're going to find at these places.

Everything I've ever found there has been a treasure to me. Plus, you don't feel guilty about giving it back to them after that $4 designer jacket has lost it's interest. Just call them up with a bunch of bags of clothing and they'll pick it up and you'll get a tax receipt for the items.

9. INSTEAD OF BUYING. I know there are a lot of people that have a sick, twisted passion for buying books, DVDs, CDs, video games, etc. about as much as I do. I have gotten a lot better over the years of letting go of this addiction, but sometimes it resurfaces when I'm standing in Virgin Megastore in Times Square and I see $10 CDs and DVDs. (Thank God, Virgin has the VIP program or I'd be flat broke all the time.)

One way to overcome buying entertainment all the time is to visit your local library. Believe it or not, you can check out the book you're longing to read, or that DVD or CD for FREE. I've been able to watch the entire Sex & The City series thanks to the library. I calculated that the amount of items I read, watch and listen to from the library equates to over $500/month. By checking these items out of the library, I saved all that money.

Now, if you succumb to the shopping fever every now and again like I do, Amazon.com has offered me a redemption for my sins of spending too much on entertainment. I can get my fill from the DVDs, books, and CDs, and then list them on Amazon.com USED. Amazon.com will take a small commission, but it rids your home of all the excess of something you're very likely not going to pick up again (don't fool yourself to think that you will...believe me...you won't!). So my $10 purchase only ends up costing me a few dollars in the end, so in a way, I save. I spent money to get my use out of it, now I'm pushing it along to the next person.

10. GO GREEN. Thanks to Live Earth, the world has been given the information on how to better their lives and go green. We need to save here, invest there, and spend everyplace else. Notice, I listed "SAVE" first. Not only is saving first good for our own futures, it is also something we need to do for our planet. In an effort to invest in each other, consider buying local at farmers markets. I love meeting the farmers themselves and buying directly from them. Not only are you giving to your community, you are also buying organic products. Don't be afraid to ask the farmer about their techniques, they will tell you. Oh, and don't always think that the Amish are the most organic. If you see someone in the market with fresh, big, ripe tomatoes in May and no other farmers have it...that means their products were genetically altered. I've met and spoken to Amish farmers who have told me that the US government has supplied them with certain "fertilizers" to help their plants grow. So be careful when shopping. Also, consider growing your own garden. For those who live in the city, such as myself, I stick to just an herb garden. There is a new technique out that I have not tried yet where you can grow your plants under a lamp at home. I think that may be my next step to having my own organic vegetables in the city. Also, farmers markets are not just about plants and vegetables. You can get fresh meat, wool, honey, vinegar, etc. there as well. Many markets have also started to include local artists, as well. So you'll be able to shop for cultural items while you're food shopping.

Also, don't forget to recycle. Some states pay for each bottle returned to them. Many grocery stores are going green, as well. If you bring in your own shopping bags, they will take a few pennies off of your food order for each bag you use. This helps cut down on the number of grocery bags accumulating under your sink, and it cuts down on your food bill.

11. BRING YOUR OWN STUFF! Something I learned recently while reading up on the bottled water industry is that it takes over 1.5 million barrels of oil a year just to make the plastic bottles that hold our bottled water. Americans spend over $16 billion a year on bottled water (SOURCE: O The Oprah Magazine). KICK THE BOTTLED WATER HABIT! Most bottled water on the market is actually filtered tap water and nothing more. Consider carrying around your own bottle of water and using your own filter system from any of the major companies like Pur or Brita.

I carry around a cute pink mug with flowers on it that can handle both hot and cold beverages. I fill it up with water before I leave the house. If I want coffee, instead of wasting a paper cup, I use the mug. When you take the mug into places like Starbucks, your cup may be a Grande size, but they will only charge you for a tall. They will even wash out your mug for you.

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These are just some helpful tips on how you can save money, save the environment and give back to the community and the economy. We have to learn to be smart with our money if we want to avoid a recession. If a recession does come, we'll at least be a little more prepared.

If you have any questions on any of these topics, or would like to know how you can cut down your costs, feel free to ask. I have a lot of solutions.