What Happens When We Forget To Diversify

· Borrow strategically. If you have to take on debt, keep it to a minimum. For example, if you're married, don't have two car loans at the same time. I've seen household budgets where the combined car loans were almost the equivalent of a mortgage or rent payment.

Think about how much of your net income is going toward debt payments. For so long, we've been told to use debt as a tool. Now we see that this tool can be a sledgehammer, crushing consumers and corporations.

"The people who will be best able to ride out the current economic downturn are those whose investments are diversified, have emergency savings, and little debt," Blandin said.

I'm a worrier, so I understand if you're in a panic from the domino fall of giant Wall Street firms. But as my husband tells me all the time, worrying over things you can't change is a waste of time.

The best you can do to get through this economic downturn is not to worry but to diversify.

· On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and athttp://www.npr.org.

· By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

· By e-mail:singletarym@washpost.com.

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