If this bearish economy has you worried about your finances, it may ease your mind to remember one thing: The companies that provide your cable, Internet, and other monthly services are just as concerned as you are. That's good news for you.

The easiest way to reduce your monthly bills? Just ask. Give your cable company a call, explain that the service is too expensive for you right now, and listen as the reps fall all over themselves to keep your business. Do your homework, too: If a competing company has a better deal, tell your current provider so. Don't worry if you have no luck the first time. Try again later, and the next person you talk to may be more ready to compromise. And if your current provider still won't play ball, you may be better off going with that other company's promotional offer after all.

While you're at it, try the same approach with your credit card debt. Just as telecom service providers are struggling to retain their customers, credit card companies are bending over backward to keep their debtors from going into bankruptcy. If excessive credit card balances have your back up against a wall, phone your creditors and tell them so. In the end, you could walk away with as much as 70 percent forgiveness on your debt, for the low, low price of leveling with the credit card company about your financial situation.

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