Saturday, May 1, 2010
What To Do When The Economy Sucks 101 Tips to Help You Hold On to Your Job, Your House, and Your Lifestyle by Peter Sander.
This is a book on financial self defense. It is how to act conservatively to protect your assets when the economy is not doing well. It is also the basics on financial self defense. It is not innovative. It is the stuff most people don't want to hear. That is why it is good to read. The language is very straightforward. There are no complex formulas. Go into work, be nice to your boss, show up every day, do your job. Make sure you are not spending too much money. This book is not rocket science. It is practical reminders on how to cut back when you need to. Keep track of hidden fees attached to your bills, check to see what you are paying for automatically from your credit card accounts, don't buy things simply because they are on sale, if you don't need something cut it. It reminded me to close a few accounts. If you need to downsize your life because you are in foreclosure, lost your job, are near bankruptcy, or find yourself living beyond your means this book will give you tips on how to do it. The basics of budgeting and investing are in here. There are no golden tricks. There wasn't a whole lot new for me; I have kept my car more than seven years, but still use public transportation, have very few automatic payments, and understand the latte factor. Tighten up and spend less, a lot of people are doing it in this economy. Be happy if you go out and don't buy anything.