Living Well in a Down Economy For Dummies

This compilation features an expert team of For Dummies authors, including Ted Benna, Steve Bucci, Deana Sklar, Margaret Munro, Wendy Jo Peterson, Elizabeth Shaw, Christine Zink, Amelia Jeanroy, Jeryl Spear, Miranda Burns, Laura Smith, Tara Powers, Ralph Roberts, Yvonne Jeffrey, and others.

Introduction 1

Part 1: Facing off Against a Recession 5

#1: Determining Your Net Worth 7

#2: Calculating Spendable Income 10

#3: Calculating Required Expenses 14

#4: Calculating Discretionary Spending 17

#5: Tracking Expenses 20

#6: Setting Spending Practices 22

#7: Creating a Budget 27

#8: Breathing Away Tension 30

#9: Tensing Your Way to Relaxation 32

#10: Stretching Away Your Stress 35

#11: Practicing Habits of Effective Stress Managers 37

Part 2: Bumping Up Your Bring-home 41

#12: Updating Your Resume 43

#13: Choosing the Right Resume Format 47

#14: Making Your Resume Stand Out 49

#15: Preparing for a Job Interview 53

#16: Standing Out during an Interview 57

#17: Dealing with Video Interviews 60

#18: Employing Post-Interview Tactics 62

#19: Trying Quick Ways to Find Good Jobs 64

#20: Looking into Federal Jobs 67

#21: Checking Out Best Career-Changing Tips 68

#22: Figuring Out Whether You Should Change Your Career Course 70

#23: Telecommuting as an Alternative to Traditional Work 72

#24: Persuading Your Organization to Let You Work from Home 74

#25: Considering Self-Employment 76

#26: Getting Acquainted with Home-Based Businesses 78

#27: Setting Up Your Home-Based Business 80

#28: Taking a Few Steps Before Leaving Your Job 88

#29: Getting the Cash Flowing 90

#30: Surveying Tax Deductions Available to Home-Based Businesses 92

#31: Recognizing Often Overlooked Ways to Save on Your Taxes 94

#32: Ensuring the Survival of Your Home-Based Business in Tough Times 96

#33: Boosting Your Household Income with a Side Hustle 100

Part 3: Putting Your Personal Finances On Firm Footing 103

#34: Categorizing Your Financial Records 105

#35: Setting Up a Filing System for Your Financial Records 107

#36: Finding an Insurance Agent 112

#37: Having a Balanced Insurance Program 115

#38: Deciding between Permanent and Term Life Insurance 117

#39: Choosing a Permanent Life Insurance Policy 119

#40: Selecting a Term Life Insurance Policy 121

#41: Avoiding Life Insurance Mistakes 123

#42: Saving Money on Your Homeowner’s Policy 126

#43: Looking into Umbrella Policies 127

#44: Buying an Umbrella Policy Wisely 128

#45: Reducing Risk and the Expense of Car Insurance 130

#46: Getting the Right Car Insurance Coverage 132

#47: Cutting the Cost of Your Car Insurance 134

#48: Continuing Health Coverage When You Leave Your Job 136

#49: Capping Out-of-Pocket Health Expenses 138

#50: Saving on Individual Health Coverage 139

#51: Using Health Savings Accounts 140

#52: Tapping into Short-Term Health Insurance 142

#53: Examining Health Insurance Options for the Self-Employed 143

#54: Considering Long-Term Care Insurance 145

#55: Seeing the Tax Benefits of a 401(k) Plan 146

#56: Knowing the Limits on 401(k) Contributions 148

#57: Reducing the Amount You Invest in a 401(k) 149

#58: Timing Investment Allocations to Match Employer Contributions 150

#59: Protecting Your Retirement Goals with a 401(k) .152

#60: Withdrawing Money from Your 401(k) with the Fewest Penalties 155

#61: Borrowing from Your 401(k) 157

#62: Taking a Hardship Withdrawal 160

#63: Rolling Over Your 401(k) to Avoid Taxes 164

#64: Leaving Money in Your Old Employer’s Plan 166

#65: Avoiding Lump-Sum Withdrawals 168

#66: Taking Your 401(k) Plan with You to Your New Job 170

#67: Investigating Tax-Deferred Ways to Save for College 172

#68: Considering Costs of Different Colleges 175

#69: Working Part-Time and Summer Jobs 178

#70: Applying for Financial Federal Aid 180

#71: Squeezing Out Every Drop of Available College Money 182

#72: Looking into Federal Assistance Programs 185

#73: Using Federal Loans 186

#74: Deferring or Discharging Student Loan Debt 188

#75: Consolidating Your College Loans 189

#76: Getting Tuition Discounts and Waivers 190

#77: Finding College-Based Scholarships 193

#78: Accessing State and Local Scholarships 194

#79: Looking into Charitable Foundations for College Funds 195

#80: Tapping Organizations for Scholarships 197

#81: Accepting Work-Study Opportunities 198

#82: Receiving College Funding in Exchange for Service 199

#83: Searching Out Merit-Based Financial Aid 201

#84: Negotiating Better Financial Aid 203

#85: Carefully Considering Retirement Accounts for College Expenses 206

#86: Knowing When to Refinance Your Mortgage 208

#87: Calculating the Cost of Refinancing 209

Part 4: Living a Recession-busting Life 213

#88: Developing Good Shopping Habits 215

#89: Buying Store Brands and in Bulk 217

#90: Seeing through the Gimmicks Grocery Stores Use 219

#91: Using Coupons and Rebates 221

#92: Targeting Seasonal Grocery Sales 223

#93: Planning Your Meals Economically 225

#94: Stretching One Meal into Two (Or More) 229

#95: Finding Alternatives to Store-Bought Food 231

#96: Saving on Baby Food 233

#97: Cooking Up Money Savings 235

#98: Canning and Preserving Your Food 238

#99: Freezing Fruits and Vegetables 241

#100: Trying Other Ways to Save in the Kitchen 244

#101: Getting Toiletries on a Budget 246

#102: Saving on Salon Expenses 248

#103: Cutting Your Kids’ Hair 249

#104: Expanding Your Wardrobe 251

#105: Getting Stains Out of Kids’ Clothing 253

#106: Reconstructing Your Clothes 255

#107: Shopping for Secondhand Clothes 257

#108: Utilizing Community Resources 259

#109: Having Fun in Your Own Backyard and Beyond 260

#110: Saving for a Family Vacation 262

#111: Traveling on a Few Dollars a Day 263

#112: Finding Transportation Bargains 266

#113: Saving on Phone Bills 270

#114: Staying Cool on the Cheap 271

#115: Keeping Warm 273

#116: Making Your Own Cleaning Solutions 275

#117: Fixing Squeaky Floors 278

#118: Extending the Life of Your Roof 281

#119: Fixing Roof Leaks 282

#120: Prolonging the Life of Your Siding 284

#121: Using Less Energy 289

#122: Keeping Your Fridge Running Well 291

#123: Insulating to Save Energy Costs 295

#124: Insulating Pipes 298

#125: Insulating Heat Ducts 299

#126: Stopping Air Leaks 300

#127: Identifying and Fixing Plumbing Leaks 302

#128: Improving Water Heater Efficiency 304

#129: Helping Your Furnace Work More Efficiently 306

#130: Saving on Your Vehicle Fuel Expenses 308

#131: Adding Antifreeze 312

#132: Checking and Changing Your Oil 314

#133: Taking Care of Your Tires 319

#134: Easily Making Other Automotive Checks and Fixes 323

#135: Choosing an Automotive Service Facility 326

#136: Finding and Evaluating a New Automotive Service 331

Part 5: Making the Most of Holidays And other Special Events 333

#137: Entertaining on a Shoestring 335

#138: Throwing a Party on a Budget 337

#139: Making Inexpensive Easter Baskets 339

#140: Creating Frightfully Affordable Halloween Costumes 340

#141: Celebrating a Budget-Friendly Thanksgiving 342

#142: Trying Creative Hanukkah and Christmas Ideas 343

#143: Hosting a Frugal Birthday Bash 345

#144: Packing Up Treats on the Cheap 347

#145: Finding Inexpensive Gifts for Your Sweetheart 349

#146: Checking Out Frugal Gift Ideas for Any Occasion 351

#147: Making Great Gift Baskets 353

#148: Cutting Costs with a Birthday Box 355

#149: Exploring Alternative Gift Ideas 356

#150: Looking at Gifts for Bridal and Baby Showers 358

Part 6: Staying Afloat if the Boat Starts to Sink 361

#151: Spotting Signs of Financial Trouble 363

#152: Avoiding Credit Pitfalls 365

#153: Getting Copies of Your Credit Report and Scores 367

#154: Checking Your Credit Report 371

#155: Disputing Inaccurate Info on Your Credit Report 374

#156: Adding Positive Info to Your Credit Report 378

#157: Taking the First Steps to Dig Out of Credit Card Debt 380

#158: Gauging Your Need for Help with Credit Situations 382

#159: Taking Debt Situations into Your Own Hands 384

#160: Working with a Credit Counseling Agency 387

#161: Creating a Debt Management Plan 390

#162: Talking to Creditors to Work Out a Solution 392

#163: Negotiating a Payback Arrangement with Collectors 397

#164: Avoiding Debt Settlement 399

#165: Keeping Credit Under Control While Unemployed 400

#166: Consolidating Debts 404

#167: Taking Control When Foreclosure Looms 406

#168: Drafting a Plan of Attack to Offset Foreclosure 409

#169: Understanding Types of Bankruptcy 412

#170: Avoiding Bankruptcy 416

#171: Choosing Which Bills to Pay When You File for Bankruptcy 419

#172: Negotiating with Creditors to Avoid Bankruptcy 421

#173: Handling IRS Debts 423

Part 7: the Part of Tens 425

#174: Ten Ways to Trim the Money Tree 427

#175: Ten Ways to Handle Financial Emergencies 429

Index 431