How to deal with money struggles during a financial crisis
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Navigating a financial crisis can be overwhelming. How do you decide what expenses should be prioritized? Should you tap into your retirement accounts? What about asking friends or family for financial help? Should you apply for a payday loan?
The first step of creating your emergency plan is understanding your essential needs. "Traditionally, financial experts say, 'Try to pay all your bills, pay them on time.' And we just drill that into people's heads until they lose their job." says personal finance columnist Michelle Singletary."When you don't have enough income, you just pay for what you need, a roof over your head and food on a table."
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Her new book, What To Do With Your Money When Crisis Hits: A Survival Guide, is an emergency field guide for your money.
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