Tips for moving your money

For more information on managing your largest investment, check out Gerri Willis' "Home Rich," now in bookstores.

ROAD TO RESCUE

• Home prices up for 1st time in 3 years
• New home sales: 'Really good news'
• Wall Street: Here comes the hard part
• 7 regional banks fail
• Banker: "TARP helped avert a global calamity"

NEW YORK (CNNMoney.com) -- You don't need economic data to tell you how bad the economy is - and where it's hurting. Here are some ways to move your money and keep it safe in this troubled time.

1. Smart Money Move - Stay Put

You want to keep contributing to your retirement account. Getting out when the market is down means missing big market gains.

Just last week the Dow had its second largest point increase ever. Yet, a new study from TD Ameritrade indicates that 63% of Americans completely stopped contributing to their retirement plans.

If you only invest when the market is headed higher than you pay more for your investments. The only reason to stop? Job loss or sky-high health care costs.

2. Create a silver lining out of your losses

You may be able to use these losses to cut your tax bill.

Capital losses - securities sold for less than the original purchase price - can be used to offset capital gains on your tax return, as long as the loss sale occurs in a taxable account - that means it's not part of an IRA or 401(k).

Now, if your portfolio was just devastated, you will be able to cut your taxable income up to $3,000 a year says Tom Orecchio of Greenbaum and Orecchio in New Jersey.

3. Have an IRA? Switch to a Roth

If you're in a traditional IRA you may consider converting to a Roth IRA.

That's because when you do this conversion you pay taxes on the assets upfront. But in a year when there aren't many gains, the taxes you pay will be less.

There are advantages to switching to a Roth. First, you don't pay taxes when you take the money out upon retirement.

Second, you don't have to take required minimum distributions when you reach a certain age.

But to do the conversion, keep in mind there are income limits says Orecchio.

4. A tip for budgeting

Now is the time to try to cut out what you can out of your budget. It's not always easy, but in some cases, it's the only way to make ends meet.

There are some places you can go online to get free budgeting tools. To track what you're spending, go to quicken.intuit.com. If you don't have a computer, track your expenses on a piece of paper for a few weeks. You may be surprised at where your money goes.