Bank failures and bailouts, evaporating net worth and tighter credit, job losses and multibillion-dollar Ponzi schemes. After the year we've had on the money front, who wouldn't want to leave 2008 in the dust?
I doubt 2009 will be a picnic as far as the economy is concerned, either. But some market watchers say the stock market is poised to rebound. And I'm hopeful that in the coming year, keeping up with the Joneses will have more to do with living on what you make than living with the latest, greatest toys.
To start the new year right, I asked several Minnesota money experts the following: If you could give one piece of advice for how to prosper in 2009, what would it be? Here are their answers. More advice can be found at my blog: www.startribune.com/kablog. I hope you'll share your nuggets of wisdom there, too. CASSAUNDRA ADLER

Financial educator, Minneapolis

Look at your survival budget -- your bare-bone expenses. See if your monthly cash inflow covers this number. Most folks have no idea what their survival budget number is. But once they do, it provides them some sense of comfort. They feel they at least have a starting point to deal with the current economic tsunami.

ALEX BARNED

Market area manager, UBS Wealth Management, Minneapolis

Don't make 2008 a year of "what if?" Given all that happened this year, people are more emotional when it comes to finances and investing than they should be. Moving into 2009, take the time to know exactly what you own -- from stocks to property to savings accounts -- and make sure what you own is right for you and your financial needs. Once you've taken a look and know what you own, don't look at it too often. That can lead to emotion and second-guessing.

JIM CHRISTIAN

Financial adviser, Lakeville

I'm an avid shipwreck diver, and in scuba diving, we practice the 3 R rule: "Regain control. Respond. React." If I were to give one piece of advice and reiterate what I am doing with clients every day it's to practice the 3 R rule. DARRYL DAHLHEIMER

Program director, LSS Financial Counseling, Minneapolis

"Watch out!" In any downturning economy where people are desperate, the market provides many scam artists willing to leverage that fear and worry. One concrete example is the rescue scams in the foreclosure market. Another is the return of credit-repair offers.

NATHAN DUNGAN

Share Save Spend, Minneapolis

Make sure your values are in alignment with your money decisions. Do your money choices reflect the values that are most important to you? This is often overlooked, but it is critical to ensure short- and long-term financial success. Incorporate these beliefs into a values-based budget and use it as your road-map for all future money decisions.

KURT DURRWACHTER

Laraway Financial Advisors, St. Cloud

Start thinking of yourself as the CEO of the Smith Family Inc. In a corporation, the term "cash is king" holds true more now than ever. With credit lines tight and jobs on the line, if you are the CEO of your family, you need to ask yourself: "How long would we survive if our income sources dried up?" If the answer is "less than a year" or "I have no idea," then it's time to get brutally honest and think about what's truly important. Put on your CEO hat. Cut spending, reduce bad debt and increase savings.

RUTH HAYDEN

Financial educator and author, St. Paul

Managing fear is the key to dealing with this "new normal." Fearful people are inactive people or reactive people. Taking actions such as getting your resume updated -- even if you have a job -- will make you feel more confident. Save any extra dollars, even if you eat macaroni and cheese several nights a week. A stash of cash -- large or small -- helps manage fear. Fear also destroys creativity. Ideas for dealing with a difficult situation need the highest amount of creativity. Creativity will help you deal with what is, rather than living in fear and frustration over what was.

MARTHA POMERANTZ

Investment principal, Lowry Hill Investment Advisors, Minneapolis:

Move away from the investment portfolio that says you have to have 20 percent in bonds and 80 percent in equities. It isn't about that. It's about how much do you have to have off on the sidelines to make sure you can make it from here to there so you don't make a bad decision when the market comes down.

What's your key advice going into 2009? Tell Kara McGuire • 612-673-7293 or kmcguire@startribune.com.