In the news earlier this week the CIPD (Chartered Institute of Personnel and Development) suggested that jobs were to be cut in the coming months, with an Autumn cull expected, especially in the public sector: BBC

I made some suggestions on how to 'recession proof' your job last week and I think now is the time to be reviewing your financial situation and making some plans.  

Most public sector organisations give plenty of warning of possible job losses, so it is much more unlikely that you will turn up to find a plastic bin liner on your desk one day. While I do suggest you try some of the things in my earlier post, think about doing some housekeeping in your own life too.  

1. Obviously now is not the time to be thinking of taking out loans.  Try to avoid adding to debt at this time.  Review your finances and be prepared to contact creditors, such as your mortgage company, to arrange for  payment breaks or to renegotiate terms.  Martin Lewis has a great post with lots of advice for those in debt.  
2. There may be monthly payments and subscriptions that you could think about trimming.  Do you need that expensive mobile phone contract?  Could you renegotiate?  Is there a cheaper gym membership in the area?  Here's a great list of money saving ideas. 
3. Have a look at some of the comparison websites to see if you can get your power, telephone, broadband and other bills down (I've linked to a few at the bottom of this post).
4.  Are you making the most from your savings?  Check the interest rates on all your accounts.  Are you making the most of your ISA allowance?  At this stage I would not lock away your savings in fixed term accounts, but you may be able to improve your return on investment.
5. Is your social life a big expense?  Chances are your friends are worried about their jobs too.  Can you go out to cheaper places or go out less often?  Perhaps arrange get togethers at each other's homes, or a picnic in the park (as long as the weather lasts).  Make sure it is byo (bring your own) so that you don't end up funding the whole event.
6.  Frequent eating out can be a big expense too, and chances are it's not good for your health anyway. Same with ready meals.  They are expensive and packed with additives. Learn some simple meals you can cook at home.
7. Use the internet to search for cheaper prices, especially for larger items.
8. Sit down with family members, or people you share your life with, and discuss how you can all contribute to financial savings over the next year.  Ask them to come up with ideas.  It's good for children to see  parents resolving problems that crop up and they will learn from you.  It also helps if they feel involved in the household decisions.

Don't let the fact that you are having make savings feel like a personal failure.  Sometimes life throws challenges at us, and success is all about how we deal with them.  A bit of forward planning now can pay dividends in the future.

Remember, some of the things you consider essentials today were luxuries a few short years ago.  A temporary retreat might be called for right now.  It's not forever and it could make the difference between whether you sink or swim.  When things look up you can relax your spending again.