Baby Boomer Stimulus Package

The $885 billion Senate economic plan faces assaults from both Democrats and Republicans during debate this week as lawmakers in both parties aim to jolt the economy right away.

The goal is to shape a package that is more targeted, that would be smaller in size and that would be truly focused on saving or creating jobs and turning the economy around. If you're a member of the sandwich generation and under pressure to scale back spending, check out these ideas:

Be realistic and face the facts. If you're not already, live a simpler life within your means. Focus your efforts, because living your convictions is harder than just making the decision to change. Be accountable for your financial goals and create a concrete spending plan. You don’t have to panic but you can begin to take small steps. Learn how to have fun without spending money – invite another couple over to play cards, check out a book from the public library, catch up with a friend on a walk, take your family on a hike in the hills.

Stay centered about what you plan to buy, what you can afford and what really matters to you. Ours is largely a culture of impulsive recreational shopping. To begin the transition to mindful shopping, make a list of the items you plan to purchase. Then decide how important each one is and, if it's not that necessary, let it go. Continue to differentiate between what you want and what you need.