Losses in 401(k)s, IRAs and other accounts teamed with fears about bank solvency and possible job loss is putting real stress on American families these days. Here's how to lessen some stress.

Pay attention to the economic news but don't panic. By focusing on what you can do to minimize losses, you are being proactive rather than emotionally reactive.

Sit down with the family and brainstorm how you can all cut costs and save more. Particularly involve teens. Many of them over the past several years have never heard the word "no" when asking for money. It's time to get them involved.

If you still have too much month left after your paycheck, get help from a credit counselor. Don't be afraid to talk with your mortgage company, utility company, etc.

Be inventive. Try new ways to manage your money or deal with stress. Talk with your family. Share your concerns. Now is not the time to hide.