The recent turmoil on the national financial markets has some wondering...how they can prevent their finances from collapsing.

Asked if it might affect him personally, George Harris said, "Only if it goes flat and takes my savings."

Harris and Adelaide Kesterson grew up during the Great Depression, when that was possible. But a local financial planner says not panicking is one way to keep from being affected by the wave of concern hitting the national financial community. Another way is making sure you can manage your credit debt.

"It's hard to find an investment that will give you the same return as you can save by paying down your debt," said Ed McDonough, C.P.A., of McDonough, Eddy, Parsons and Baylous. "That should be everyone's first interest."

And that's largely because the nationwide banking problems are resulting in a credit crunch...one which could have an impact on everyone from individuals to businesses.

"With the debts that are out there and the current securities, main bank aren't going to lend because they're not going to feel secure doing it," McDonough says. "If this continues without some kind of solution, credit will dry up and, at that point, it will affect Main Streets all over the country."

McDonough, however, believes the problems will eventually be worked out. and he has some agreement from main street.

"It will get straightened out," Adelaide Kesterson says. "And it might be a good thing this happened, because a lot of good will come out of it."

McDonough, who is board chairman of Community Bank, reiterates what others have told us in recent weeks...that the local economy and banking system have not, at least so far, been affected by what's been happening nationally.