Here we are, a few months into the new millennium and everything looks fine. The economy is just peachy, jobs are easy to get and there are few signs of trouble ahead. The question now is, how do we make the best of good times? How do we build on what we’ve got to ensure a bright future, come what may?

There is a surefire financial strategy that will allow you to win big if the good times continue indefinitely, and to suffer little if they do not. That strategy is to reduce your debt or to eliminate it altogether, build a reserve fund of three to six months' salary, and then once you’re in the habit, keep on saving. During a recession, it is the debt-laden consumers who suffer the most because invariably interest rates go up. If a job layoff comes, then there is real trouble.

If no recession comes, those with minimal debt and comfortable reserves have a foundation on which to build security and make their dreams come true.

"Dare to have a family dream," says Jack Thompson, president of San Diego’s Consumer Credit Counseling Service. "The second thing is give that dream life by taking control of your money. If a family doesn’t control their money, nothing else they have will ever make sense."

Sadly, even in these good times the number of people who are overextended with credit card and other debt is significantly higher than it was 10 years ago. And for good reason. We are bombarded with offers for credit, tips on how to make the most of debt, even to the extent that debt is presented as wise rather than as potential folly. For example, on the AOL personal finance page, sections advise how to borrow using a second mortgage, how to consolidate debt under one loan, and so forth. The page labeled "debt management" actually contains instructions on how to squeeze the most out of your credit cards. No sections counsel people on how to avoid or get out of debt, perhaps because no advertisers wish to sponsor that kind of page.

Thompson points out that money problems afflict people in all walks of life. He was talking to an attorney not long ago who wondered why a recently deceased judge never had been appointed to a higher bench. Thompson knew that the judge had ongoing serious credit problems over a 25-year span, and the panel that selects judges knew it as well. An otherwise excellent judge had been passed over repeatedly because of his inability to handle money sensibly.

The Consumer Credit Counseling Service works with those who have been sucked a little too far into this system and have trouble getting out. At the moment, CCCS is helping 5,000 local families who owe approximately $138 million, mostly from credit card expenditures.

"This has less to do with the economy than with the age of instant gratification," says Thompson.

All consumers should ask themselves the following questions:

• Am I at or near the limit on my credit cards?
• Am I always late with bill payments?
• Am I able to make only the minimum payment on my credit cards?
• Am I borrowing from one credit card to pay another?
• Do I skip one payment so that I can make another?
• Are creditors calling about overdue bills?
• Do I know how much I owe?
• Do I have sufficient cash saved for an emergency?
• If I lost my job, would I be able to pay for my basic living expenses?
• Am I arguing with my spouse or others about money?
• Do I postpone medical or dental visits because I can’t afford them?

You need not be teetering on the brink of ruin to benefit from debt education. Every person can benefit from having a road map and plan for getting where they want to go. Thompson's organization presents more than 70 free home ownership classes each year for first-time buyers, as well as another 200 or so free classes on basic budgeting, credit card spending and credit profile correction.

Making your financial house shine may take time and patience, but, says Thompson, "One of the truths of life that I have learned is that if a family will chart a course and head towards it, and devote themselves to looking for opportunities to advance their dream, help will come from yet unknown sources. That's just the way it works."

Thompson does have one tip that we all should heed.

"Live beneath your means. If you want to grow rich, you have to spend less than you earn; it’s that simple."

For information or a confidential appointment, call CCCS at (619) 497-0200 or (888) 298- 2227. The Web site is www.cccssdic.org.

Janet Lowe is author of several investment books, including "Value Investing Made Easy" (McGraw Hill) and "Warren Buffett Speaks" (John Wiley & Sons).