EDITOR'S NOTE: One in a series of stories assessing how last fall's financial meltdown and the Great Recession have changed our lives.

NEW YORK- If the Great Recession has taught people one thing, it's this: They need to take charge of their finances.

It's a lesson plenty are heeding. People are saving more and spending less. The personal savings rate has risen to more than 4 percent after sinking to near zero in the months before last fall's meltdown. The number of people getting financial counseling is 3.2 million, double the amount two years ago.

In ways big and small - from scrutinizing their bills and joining credit unions to scaling back weddings and college plans - people are finding creative ways to deal with the worst recession in a generation. In short, there's a quiet revolution taking place in the way people save, borrow and spend that represents a retreat from old habits, and the first steps toward new ones.

For years, the traditional savings account has been a quaint relic of the past. There were just too many other things to do with our money - and most involved spending it. Home improvements - and, for many, a second home; a second car and then a third; overseas vacations. The list went on. Saving meant putting money in a 401(k), and many didn't put as much into those as they could. Then the market plunged and the value of those accounts fell with it.

Now, many people are reassessing their approach to socking money away.

While personal income is down slightly since the recession officially began in late 2007, the personal savings rate is rising. In 2007 the savings rate stood at 1.7 percent of after-tax income. That climbed to 2.7 percent in 2008, and in July - the most recent data available - hit 4.2 percent. As people fear losing their jobs, they will save more: Economists expect the savings rate to top 6 percent in coming months if unemployment - which was 9.7 percent in August - continues to rise.

But people are still saving less than they did in the last major recession in 1982. Back then, the savings rate was 10.9 percent when certificates of deposit were earning more than 12 percent.

These days, it's difficult to earn much on savings. Most bank money-market accounts offer a return of less than 2 percent, and even long-term certificates of deposit offer little more than 2 percent.

Reducing credit card debt can be one of the quickest ways to save. With credit card companies charging more than 13 percent on average - and up to 30 percent for people with poor credit - reducing or eliminating that monthly payment will save money.

Financial planners used to advise consumers to save enough money to cover their expenses for three months. When the worst of the recession hit, Laurie Siebert of Valley National Advisers in Bethlehem, Pa., already was advising clients to boost their emergency savings to six months. Now, she's urging them to save enough to cover a full year of expenses because credit lines and job security aren't guaranteed.

One big reason to save more now: Homeowners can't depend on rising property values to refinance their mortgages to help cover household expenses.

People are flocking to bank and money management Web sites to compare interest rates and share advice. Traffic to personal financial management Web sites, where users can analyze their saving and spending, has soared. The largest site, Mint.com, saw traffic grow from 200,000 visitors a month in January of last year to more than 1 million a month this year.

Smart consumers treat their savings as an expense and set aside their savings before paying other bills. When the bills are paid off, they shift that money into a savings account.

And if you're not participating in your company's 401(k), start now. If you are and don't save as much as you can, increase your monthly contribution. Remember that you can borrow money to help send your kids to college, but there aren't any loans for retirees.