Financial advice from a COAS pro

I came back from spring break tan, well-rested and feeling great about life in general. Returning to the IDS to work Sunday was almost fun, as I had made a point not to read and/or watch the news while I was basking in the Florida sun. \nDuring break, it was important to me to try to avoid learning, to actually forget what little I do know, if at all possible.\nExpecting a slow day at work, as the first day following a break is traditionally known in the newsroom as "All-Wire Sunday," I was surprised to see the amount of "real" news that needed to be covered, edited and made ready for print. What especially caught my eye were the stories about the slumping economy and the plummeting stock market. The fun little stock market arrows on top of the world section were all pointing down, and Alan Greenspan seemed a bit grumpy.\nBefore I really get into this column, let me make it crystal clear that I am not a financial expert by any means. So before anyone gets huffy and exclaims "Laura Ewald has no clue what she's talking about!" I'll admit it: I have no clue what I'm talking about. \nAll Ewalds have a monumental fear of math, from story problems to dollar signs to … gulp … fractions. We're also rather laid back when it comes to careers, salaries and the like. With my sister in the seminary and me looking into writing or working for a theater, we're not the most lucrative family. \nMy parents, when they're in "Mom and Dad Mode," encourage us to do what we love, that the money will take care of itself. (When I suggested that I could sit around watching "General Hospital" and eating as a career option, they said that's not what they meant. Parents!)\nBut despite my lack of economic know-how, I'm confident with the little cash flow I have. A copy chief's salary is decidedly lacking, but I've found fun ways to make it stretch. For example, did you know a box of rotini pasta can feed a single gal for a week? A good way to save on phone bills is to make your family members call you … none of that "returning phone messages" stuff. \nMy greatest financial planning achievement is getting over my fear of the Kelley School of Business enough to take a class there, F260: Personal Finance. We COAS folks have a really hard time walking around that building; I always kept my head down and tried to look busy when I walked down the "Hall of Honor." The pictures of alumni financial success stories can be a bit intimidating, so I just tried to blend in with the B-schoolers. Later, back in good ol' Ballantine Hall, I would sigh with relief and resume my invaluable "broad-based education."\nI surprised myself by doing well in the finance class, and it taught me a lot about the stock market, car insurance, mutual funds, budgeting and other fun things. But the best piece of advice I got from my instructor, and from my own fake stock portfolio that I grew addicted to during the semester, I will now impart to you, dear readers. \nIn this, a time of economic crisis, I want to encourage everyone to calm down.\nYes, we're in a bear market (I like throwing that term around), but look at it this way: Stocks are on sale! They're slashing prices! Everything must go!\nSo Billy Bob Big Stock was $50 a share when you bought it and is now worth $25. Settle down … as a friend of mine from Texas would say, it's a "two-fer." Buy more!\nStudies have shown that as long as you keep at it in the stock market for 10 years, you're in the clear. Now, don't start calling me for financial advice and portfolio building just yet; I have a lot to learn. But as I hear more and more market horror stories and people worrying about their money, I just wanted to remind people that this, too, shall pass. \nBuy low, sell high and hang in there!