according to a consumer affairs expert.

And Government consumer affairs officer Mrs. Sue Davis was referring to both working and unemployed people when she spoke about coping with the recession.

She said that nobody needs to get into a position where the only answer is to panic.

Having given consumer advice for 15 years, Mrs. Davis offers advice to people who find they cannot balance their budgets.

Speaking about Bermuda's working population, she said: "You must build a nest egg equal to two to three months of your expenses. It is extremely important to do that whether there is a recession or not.

"This provides you with something so you do not have to go into a panic because you have no money at all. Then you can start looking for employment.

"You must put off unnecessary expenses and prepare a budget. We offer a confidential service to prepare a budget. We can look at your expenses and tell you alternatives to certain expenses.'' Mrs. Davis suggested that workers should fulfil the expectations of their employer to make sure they are not laid off from their job.

"The laid-back employee will be the first to be laid off. Hopefully, the last employee to be laid off will be the hardest working.'' Discussing problems of companies having to cut wages because of hard times, Mrs. Davis suggested that if employees suffer because of a reduction in pay they can try to get a part-time job to get more money, or seek a better paid job.

On the jobless, she said: "Do not allow your pride to get in your way. People are too proud to go out and get assistance. This is silly. It is not your fault if you are unemployed.

"Reach out for the support which is there because problems are easier if you share them.''