4) Jewelry party: With precious metal prices tripling since 2001, home-based jewelry meltdown parties to recycle old gold and silver for profit are growing. These "Gold parties" can be fun and profitable idea. Bringing together friends, family and neighbors for a party is much more appealing to most than visiting a local pawn shop. Be sure to use the proceeds to reduce your debt first and then save at least 10% for emergencies.

5) IRA rollover: Now is a great time to convert some paper assets into precious metals without any tax penalties or new contributions, simply by converting an existing IRA, 401(k) or other retirement fund into a "Self-Directed Precious Metal IRA". This is a smart way to hedge a weak dollar and offset stock losses with virtually no money out of pocket.

6) Save real money: Put away at least $100 per week into precious metals for the long term. For example, if you save $400 a month in silver, over one year you’d have 250 ounces, (almost $5,000 at today’s price of $18/oz.). Experts say silver prices could rise to $50 to $100/oz. in the next five years. Imagine; over five years you'll have saved 1,250 ounces of silver, which would be worth $125,000 if silver reaches $100/oz. Hi-ho silver!

About 25% of Americans collect modern coins as a hobby, but sadly they are not likely to grow in value unless the coins are gold or silver, rather than today’s modern pop-metal coinage. Many of America's greatest coin collectors, like John J. Pitman started by slowly, but steadily putting away the best quality gold/silver coins they could afford.

Earn all you can, save all you can and give all you can is my best advice today. Putting away real or "good" money, whether gold or silver, will help offset bad times due to the falling dollar, rising inflation and the emerging debt and credit crisis of our time.

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