If borrowers hadn't been hurt enough by the Reserve Bank ratcheting up interest rates, the banks have kicked them while they were down with a series of unofficial rises.

This week we learned superannuation funds have returned their worst results since compulsory super was introduced. (Fund managers still appear to have done nicely, though, at our expense.) In the meantime, those with direct shares have seen gains made in recent years rattled down.

And now one of the worst effects of a souring economy - job losses.

Jobs have been lost at two local businesses and the Don Smallgoods company has shed 600 jobs nationwide. We ought to brace ourselves for further retrenchments.

The economists will argue this is the slowdown we had to have. But it is a bitter pill to swallow. Local business are doing it tough and householders are working harder for less reward.

What's one to do?

By and large, we'll have to ride it out. However, it's important to understand the economics at play to mitigate the losses and, if possible, take the opportunity to find a bargain, be it in property or shares. It is a time too when sound family budgeting and planning will pay off.