“You can’t teach an old dog new tricks.”

I don’t know where that saying started, but we’ve all just been handed a new assignment: learn the trick of surviving on less.

Actually it’s a range of new tricks — from cutting back on a few frills to a complete overhaul of the family or business finances. At the core of whatever new tricks you have to learn is money; typically, it’s not the easiest thing for families or bosses to talk about.

So let’s begin the conversation. It’s probably tempting to ignore the mail when you get any statements — or just be shocked at how much the value of whatever you have has shrunk. For business owners, the choices are more stark — laying people off, retrenching or even closing up shop completely.

But this is a great time to figure out if you like what you have — or to learn what you have — and learn about options and make changes that will set you up when the economy and the stock market come back.

For business owners, you will want to review meeting notes for the last twelve months — or notes from last year’s board retreat — there are probably several “to do’s” or strategic plans that can move from the “someday” column onto the “list of things to do.” Review your business plan — it should be a living document and if you haven’t looked at it since you wrote it years ago, now is the time.

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