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What to Do With Your Money When Crisis Hits

A Survival Guide

ebook
2 of 3 copies available
2 of 3 copies available
The Washington Post columnist tells how to keep calm and carry on through economic downturns: "Outstanding . . . no-nonsense, let's-get-to-it advice." —Ric Edelman, #1 New York Times–bestselling author of The New Rules of Money
Life is full of financial setbacks. The important question is: How do you prevent a crisis from turning into a full-blown catastrophe? Drawing on years of experience as an award-winning personal finance columnist, Michelle Singletary shares her expert advice for weathering financial storms—from bear markets to pandemics—in a simple question-and-answer format. In this book, she answers the most pressing questions that crop up when money suddenly becomes scarce, like:
  • What bills need to be paid first?
  • When is it right to dip into savings?
  • What are the best ways to cut back on spending?
  • How do you keep from panicking when the stock market is down? 
  • Is this "opportunity" a scam in disguise?

  • This hands-on guide covers debt concerns, credit card issues, cash-flow problems, and dozens of other common financial matters. Whether you're in the midst of one crisis or preparing for the next, Singletary provides the tools to secure your wealth and your future.
    "Straightforward and practical . . . She takes a deep dive into health care flexible spending accounts . . . perhaps most useful is the thorough discussion of what to do when adequate housing and food are at stake: triaging bills, understanding SNAP benefits (formerly known as food stamps), navigating COBRA and Medicaid, applying for unemployment, and filing for bankruptcy are covered." —Publishers Weekly
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      • Publisher's Weekly

        May 31, 2021
        “Good financial times don’t last forever,” so it’s best to be prepared, warns Washington Post personal finance columnist Singletary (Kingdom Minded) in this straightforward and practical guide. Singletary structures things in question-and-answer format, and responds to some of the most common concerns she’s received in the current economic downturn and others. She takes a deep dive into health care flexible spending accounts, and answers “I like to keep my savings in several different accounts. Is that a good thing?” with a quick reply: just be sure to keep good records. Along the way, Singletary addresses such topics as getting past money-related emotional baggage, managing debt, and helping out family, but perhaps most useful is the thorough discussion of what to do when adequate housing and food are at stake: triaging bills, understanding SNAP benefits (formerly known as food stamps), navigating COBRA and Medicaid, applying for unemployment, and filing for bankruptcy are covered shame-free. Singletary’s plainspoken advice—“put Mama ahead of MasterCard,” she writes of prioritizing debt repayment—is a nice change from the “give up your daily latte!” school of financial direction. This will be a balm for readers caught up in financial crisis.

      • Library Journal

        May 21, 2021

        Among the many "get your financial life in shape" books out there (recent examples include Tiffany Aliche's Get Good with Money and Naseema McElroy's Smart Money), this one stands out for its forthright advice, aimed at true hardship situations. In the introduction, Singletary (personal finance writer, Washington Post) describes her book as a collection of frequently asked questions, gathered during her many years as a financial coach and columnist. It is indeed made up almost entirely of questions posed and answered, organized into seven sections that address weathering unemployment, learning from past financial mistakes, determining priorities among financial commitments, saving versus investing, pros and cons of entering the gig economy, making quick money by selling possessions online, and avoiding financial scams. Singletary packs a lot into 200 pages (including a robust list of resources for further development across many categories), and she does not sugarcoat her advice. The format is simple, but this book makes clear that there are no quick-fix solutions. VERDICT No-nonsense advice for situations where the need is great. Will be welcomed by the financially stressed, as well as those looking to lessen the impact of future lean financial times.--Sara Holder, Univ. of Illinois Libs., Champaign

        Copyright 2021 Library Journal, LLC Used with permission.

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