NORMAL - Holiday spending may be over, but the recession isn't. And that recession is expected to last through fall 2009, said Gary Koppenhaver, chairman of the finance, insurance and law department at Illinois State University in Normal.

The situation probably will get a little worse before it gets better, as the unemployment rate is likely to grow through next year, and even as the economy begins to recover, he said.

So what's a person to do?

ISU professors and local financial planners have some suggestions to come to your rescue. Follow their tips "to stay financially fit in 2009," as Carol Burroughs, a certified financial planner and founder of Forward Financial Planning in Normal, puts it.

"We've all got to control our spending … particularly at this point of time in the economy," Burroughs said.

As usual, families can develop or adjust their budgets to see what they're spending.

Home costs should be between 25 to 30 percent of your net take-home pay, said Diane Ryon, owner of American Capital Equities in Bloomington. In addition, utilities, food, transportation and insurance each should account for 10 to 20 percent while miscellaneous items can make up 20 to 35 percent, Ryon said.

Anticipate your expenses, and see if you can afford them, she said.

"When you're trying to stay on top of finances, it's trying to stay ahead of finances," Ryon said. "It's think first and spend second."

Think carefully about big purchases, and don't get too much in debt, said Neil Skaggs, ISU economics professor. Never roll over a credit card balance from one month to the next, he said.

"That's the No. 1 thing that drives me crazy. Borrowing long-term on a credit card is stupid," he said.

Burroughs suggests people observe the 3 R's - reduce, reuse and recycle - to manage their spending.

To reduce what you spend, maybe you won't go out to eat as much. Instead of buying a book, check one out from the library. Repair small appliances instead of buying a new one. Exchange hand-me-downs for clothing and toys with family or neighbors, she said.

It's also possible for you to get more take-home pay without working extra hours.

Just change your tax withholdings, Burroughs and Ryon said.

The average tax refund is $1,500, Ryon said. That's $1,500 with no interest earned through the year, she said.

Families should change their exemptions if they receive refunds of more than $30 for state and $800 for federal taxes, Ryon said.

"They could be putting money away and making money instead of paying the government," she said.

The extra money in your paychecks could be put into savings or 401(k) accounts or used to pay debt, Burroughs said.

The general rule of thumb is to have three to six months of essential living expenses in savings. But people should have six to nine months in reserves to feel more comfortable now, Burroughs said.

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Tips to financial fitness

• Live below your means.

• Think carefully about any big purchase.

• Don't roll over a credit card balance from month to month.

• Save for retirement. Put away at least enough money to take advantage of a company match in a 401(k) account. Put raises into a 401(k), and bonuses into a Roth IRA.

• At least once a year, look at your portfolio and reassess or rebalance your money.

• Change your tax exemptions if your refunds are too large.

• Establish or add to an emergency savings account.

• Invest in yourself by taking classes to improve or add to your work skills.