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Author:   Lynnette Khalfani-Cox
Publisher:   John Wiley & Sons Inc
Imprint:   John Wiley & Sons Inc
Dimensions:   Width: 19.30cm , Height: 3.30cm , Length: 23.90cm
Weight:   0.658kg
ISBN:  

9781394205165

ISBN 10:   1394205163
Pages:   336
Publication Date:   01 January 2024
Audience:   General/trade ,  General
Format:   Hardback
Publisher's Status:   Active
Availability:   In stock  
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Table of Contents

Acknowledgments xxi About the Author xxiii Foreword xxv Introduction xxvii Chapter 1: Resilience and Grit in the Face of Adversity, Transition, and Change 1 The Drive: A Famous Sports Comeback 2 Understanding the Value of Transition and Change 3 The Upside of Your Transition and Stress 5 Defining and Developing Resilience 7 Financial Resilience 9 Structural Inequality and Systems 10 Many Forms of Resilience 13 Building Emotional Resilience 13 Write a Letter to Yourself from the Perspective of a Compassionate Friend 13 Find a Quiet, Comfortable Place to Write 13 Begin with a Friendly Salutation 14 Acknowledge Your Feelings and Struggles 14 Express Understanding and Empathy 14 Offer Support and Encouragement 14 Share Practical Advice or Coping Strategies 14 Close the Letter with Kindness and Affirmation 14 Fostering Social Resilience 15 Enhancing Physical Resilience 15 Recognizing and Embracing Your Strengths 16 Resources for Resilience and Grit 18 Chapter 2: Building Your Resilience 19 Strategy 1: Practicing Mindfulness 19 Strategy 2: Cultivating Gratitude 20 Strategy 3: Journaling 21 Strategy 4: Being Patient with Yourself 22 Strategy 5: Practicing Self-compassion 22 Strategy 6: Seeking Professional Help 24 Identify the Right Professional for Your Needs 24 Consider Different Therapy Styles and Techniques 24 Leverage Online Resources and Support Groups 24 Keep an Open Mind and Be Patient 25 Strategy 7: Staying Connected 25 Reach Out to Friends and Family 25 Join Support Groups or Clubs 25 Engage in Community Activities 26 Create a Support Network 26 Strategy 8: Focusing on Self-care 26 Maintain a Balanced Diet 26 Stay Hydrated 26 Get Regular Checkups 27 Stretch and Move 27 Prioritize Personal Hygiene 27 Limit Screen Time 27 Manage Stress 28 Exercise Regularly 28 Get Plenty of Sleep 28 Listen to Your Body 28 Strategy 9: Establishing a New Money Game Plan 29 Assess Your Current Financial Situation 29 Create a Monthly Budget 29 Set Financial Goals 30 Regularly Check Your Net Worth 30 Seek Professional Guidance 30 Stay Proactive and Adaptable 30 Maintain Open Communication with Loved Ones 31 Strategy 10: Creating a Financial Plan B 31 Identify Potential Risks and Setbacks 31 Evaluate Your Emergency Fund 32 Review Your Insurance Coverage 32 Diversify Your Income Streams 32 Create a Plan for Each Scenario 32 Maintain a Flexible Budget 33 Keep your Skills Up to Date 33 Review and Update Your Plan Regularly 33 Resources for Building Resilience 34 Chapter 3: Downsized from a Job 35 The Handwriting on the Wall 36 Downsizing and Layoffs Are Painful— and Widespread— in America 37 The Rise of AI Will Lead to More Job Loss 37 The Emotional Aspects of Job Loss 39 The Psychological Contract 39 Coping Strategies to Help 41 Being Patient with Yourself 41 Practicing Self-compassion 41 Seeking Professional Help 42 Staying Connected to Others 42 Prioritizing Self-care 42 Three Crucial Financial Steps in the Wake of Job Loss 43 Review and Adjust Your Budget 43 Apply for Unemployment Benefits 43 Build or Maintain an Emergency Fund 43 Interim Economic Moves to Survive a Downsizing 44 Explore Freelance or Gig Work 44 Consider Temporary or Part-time Employment 44 Investigate Government Assistance Programs 44 Consider Refinancing or Consolidating Debt 45 Tap into Savings Cautiously 45 Negotiate with Creditors 45 Seek Professional Financial Guidance 45 Job Hunting the Right Way 46 10 Best Career Reentry Strategies to Find New Employment 47 Reflect, Analyze, and Improve Your Way to a New Job 47 Update Your Résumé and LinkedIn Profile 48 Network the Right Way 49 Enhance Your Skills 49 Practice Your Interview Skills 49 Set Daily Job Search Goals 50 Create a Job Search Plan 50 Use Job Search Engines and Online Resources 50 Attend Job Fairs and Networking Events 50 Leverage Social Media 50 Stay Persistent and Positive 50 Should You Look for Another Job at All? 51 A Pivotal Turning Point 52 Is Entrepreneurship Right for You? 53 Downsized from a Job Resources 55 Chapter 4: Divorce 57 The Financial Cost of My Divorce 59 Women Pay Alimony and Child Support Too 60 Casting Off Your Ex-spouse Financially 61 Step 1. Close Joint Accounts 62 Step 2. Update Beneficiaries and Estate Planning Documents 62 Step 3. Change Your Name If Applicable and If Desired 64 Step 4. Establish a New Budget 66 Step 5: Reevaluate Your Insurance Needs 66 Protecting Your Credit During Divorce 67 Long-term Planning During Divorce 69 Common Financial Mistakes to Avoid During Divorce 70 Not Understanding Your Financial Situation 71 Overlooking Tax Implications 71 Failing to Update Your Estate Plan 71 Keeping the Family Home Without Considering the Costs 71 Not Considering the Long-term Impact of Asset Division 71 Ignoring Insurance Needs 71 Not Securing Spousal and Child Support Payments 72 Failing to Establish Individual Credit 72 Making Emotional Decisions 72 Not Seeking Professional Help 72 Post-divorce Stories of Emotional Recovery 72 My Sister’s Divorce Story 74 Divorce Resources 75 Chapter 5: Death of a Loved One 77 Lives Forever Changed 78 The Road to Recovery 79 Bouncing Back Amid the Pain 80 Coping Strategies to Deal with Grief 81 The Six Transition Truths 82 Transition Truth No. 1 82 Transition Truth No. 2 82 Transition Truths 3–6 83 The Trauma of Losing My Sister 83 Understanding Your Ancillary Losses 84 Emotional Support 85 Financial Stability 85 Roles and Responsibilities 85 Social Connections 85 Shared Dreams and Plans 86 Sense of Self 86 Familiar Routines 86 Taking the First Crucial Five Steps 86 Step 1: Give Yourself Time to Grieve 87 Step 2: Locate and Organize Important Documents 87 Start with the Obvious Places 88 Reach Out to Professionals 88 Request Duplicates If Needed 88 Create a Filing System 88 Keep a Master List 89 Update Your Records Regularly 89 Step 3: Inform Relevant Parties and Institutions 89 Obtain Multiple Copies of the Death Certificate 90 Make a List of Organizations to Contact 90 Prioritize Your Notifications 90 Keep Track of Your Communications 91 Be Prepared to Provide the Necessary Information 91 Seek Professional Assistance If Needed 91 Step 4: Assess Your Financial Situation 91 Make an Inventory of Assets 92 Identify Debts and Ongoing Expenses 92 Determine Sources of Income and Financial Support 92 Consult with Professionals 92 Understand Your Legal Responsibilities 92 Step 5: Create a New Budget and Financial Plan 93 Determine Your New Income and Expenses 94 Create a Detailed Budget 94 Make Necessary Adjustments 94 Build an Emergency Fund 94 Reevaluate Your Financial Goals 95 Seek Professional Guidance 95 Handling Special Circumstances 96 Loss of Household Income 96 Reduction in Social Security Benefits 96 Change in Tax Status 96 Loss of Access to Credit Cards 96 Delayed or Blocked Access to Savings and Investments 97 Inheritance Complications in Second Marriages 97 Finding Missing Money 97 Gather Important Documents 97 Contact Insurance Companies 98 Search for Bank and Investment Accounts 98 Investigate Unclaimed Property 98 Check for Retirement Accounts and Pension Benefits 98 Review Tax Records 98 Consult with Professionals 99 Making It Past the Initial Phase 99 Financial Grief Explained 99 Emotional Responses to Financial Grief 100 Death of a Loved One Resources 101 Chapter 6: Disability 103 Setting the Bar Higher 105 What Are Disabilities and How Prevalent Are They? 106 A Comprehensive View of Managing the Challenges Tied to Disabilities 107 The Basics of Disability Insurance and How It Can Help Financially 109 What Is Disability Insurance? 109 Benefits of Disability Insurance 110 All About Social Security Disability Insurance 111 Eligibility for SSDI 112 A Profile of Who Collects SSDI 112 A Host of Benefits with SSDI 113 Claiming Social Security Disability Income or Workers’ Comp Benefits 114 Getting Workers’ Compensation Benefits 115 What to Do If You Get Sued for Overpayment of Disability Benefits 116 Don’t Ignore the Situation 116 Gather Documentation 116 Contact an Attorney 117 Communicate with the Insurance Company or SSA 117 Consider Possible Defenses 117 Prepare for Court (If Necessary) 118 Six Alternative Income Sources When You Have a Disability and Can’t Work 118 Government Benefits 118 Disability Insurance 119 Personal Savings and Investments 119 Passive Income 120 Support from Family and Friends 120 Reverse Mortgages 120 Safeguarding Your Earnings During a Disability 121 Federal and State Resources That Help the Disabled and Their Caregivers 122 Financial Assistance 122 Health Care Resources 122 Housing Assistance 123 Employment Support 123 Educational Support 124 Transportation and Mobility Resources 124 Support for Caregivers 124 The Mind-Body Connections That Can Help You Overcome a Physical Disability 125 Embrace a Positive Mindset 125 Practice Mindfulness and Meditation 125 Engage in Regular Physical Activity 126 Seek Social Support 126 Utilize Therapy and Counseling 126 Consider Complementary and Alternative Therapies 126 Develop Adaptive Strategies 126 Foster a Sense of Purpose 127 Bouncing Back from Disability 127 Disability Resources 127 Chapter 7: Disease 129 Disease Can Spark a Cascade of Medical Bills 132 How to Handle Lost Income and Employment Challenges 134 Assessing Your Work Abilities and Limitations 135 Exploring Workplace Accommodations and Flexibility 135 Seeking Vocational Rehabilitation and Career Transition Services 135 Exploring Freelance, Part-time, or Remote Work Opportunities 136 The Importance of Building the Right Support System 136 The Role of Family, Friends, and Loved Ones 136 Seeking Emotional Support and Counseling 137 Engaging with Support Groups and Online Communities 137 Identifying and Utilizing Local Resources and Organizations 138 How to Communicate with Health Care Providers 138 Understanding Medical Billing and Basic Insurance Terminology 138 Negotiating Medical Bills and Seeking Financial Assistance 139 Advocating for Yourself and Your Health Care Needs 139 Seeking Alternative Treatment Options and Exploring Cost-saving Strategies 140 How to Deal with Insurance Companies 140 Appealing a Denial from Your Health Insurer 142 What Medical Providers and Health Care Systems Can Do 144 How to Handle Medical Debt 145 The Vicious Cycle of Chronic Illness, Disease, and Medical Debt 146 Strategies for Dealing with Medical Debt 147 Negotiate with the Medical Provider 147 Work with Independent Advocates and Government Agencies 147 Consider Debt Consolidation 147 Apply for a 0% APR Credit Card 147 All About Charity Care Programs 148 Drawbacks to Charity Care Programs 149 Using “No Surprising Billing” Legislation to Your Advantage 150 Steps for Taking Care of Your Emotional Health 152 Embracing Self-care Practices 152 Seeking Emotional Support 153 Exploring Mind-body Techniques 153 Engaging in Peer-to-peer Support 154 How to Develop a Financial Recovery Plan 154 Assessing the Current Financial Situation 154 Setting Realistic Goals and Timelines 155 Creating a Budget and Managing Expenses 155 Exploring Financial Assistance Programs and Grants 156 Disease Resources 156 Chapter 8: Disasters 157 No Aspect of Life Untouched 159 The Long-lasting Impact of Natural Disasters 160 Understanding Billion-dollar Weather and Climate Disasters 161 An Insider’s View of How Disaster Recovery Works 163 All About Free Money from the Red Cross 165 What to Do the First 24 to 72 Hours After a Disaster 166 Ensure Safety 166 Seek Help and Inform Authorities 166 Document Damage 166 Secure Temporary Accommodation 166 Begin Cleaning Up 167 Start Replacing Vital Documents 167 Contact Your Insurance Company 167 Take Care of Yourself and Your Family 167 Returning Home Safely 167 What to Do the First Week to 10 Days After Disaster Strikes 168 Access Local Resources 168 Apply for Aid 169 How to Secure FEMA Aid After a Disaster 170 Step 1: Understand Eligibility 170 Step 2: Prepare Essential Documents 171 Step 3: Apply for Assistance 171 Step 4: Inspection and Follow-up 171 Step 5: Appeal, If Necessary 171 How to Handle Living with Disaster Six Months Later 172 Monitoring Your Mental Health 172 Continuing Insurance Claims 172 Addressing Financial and Housing Issues 173 How to Cope with Long-term Disasters Six Months to Six Years and Beyond 174 Rebuilding and Repairing 174 Seeking Long-term Aid 174 All About the New Federal Effort Designed to Help Disaster Survivors 175 How to Deal with the Two Most Common Insurance Claims Problems 178 Problem #1: Inadequate Documentation 178 Problem #2: Lack of Advocacy 179 How to Address Trauma and Manage Your Emotions 180 Reach Out 180 Prioritize Self-care 181 How to Plan for Future Natural Disasters 182 Understand Your Environment and Risks 182 Be Insured 182 Save on Insurance 182 Understand Your Insurance Policy 184 Prepare a Go Bag 184 Stockpile Emergency Supplies 184 Pad Your Pantry Wisely 185 Develop an Evacuation Plan 185 Secure and Digitize Important Documents 185 Build Your Savings 185 Make Legal Preparations 186 Make a Financial Recovery Kit 186 Explore Earthquake Insurance 186 Fight Off Forest Fires 186 Get Hurricane Ready 186 Defend Against Drought 187 Consider Home Improvements 187 Disaster Resources 188 Chapter 9: Debt 189 How to Recognize Emotional Spending 190 How to Enter the No Shame Zone 191 A Unique Look at Needs Versus Wants 193 An Inspirational Tale of Going from Debt to Wealth 194 What to Do If Your Home Mortgage Has Become Unaffordable 195 Understanding Your Mortgage 196 Loan Modification 196 Refinancing 196 Government Programs 196 Selling Your Home 197 How to Navigate Your Home Options 197 Short Sale or Deed-in-lieu 197 Deed-in-lieu of Foreclosure 197 Communication Is Key 198 How to Deal with Your Emotional Burden 198 Fool-proof, Effective Strategies to Knock Out Credit Card Debt Once and for All 199 Understanding Your Credit Card Debt 199 Pay More Than the Minimum 199 Debt Snowball Versus Debt Avalanche 199 Balance Transfers and Debt Consolidation 200 Use Windfalls Wisely 201 Seeking Professional Help 201 How to Cut Auto Loan Debt Even If You’re Leasing or Are Upside Down on a Car Loan 202 Understanding Your Auto Loan 202 Refinancing Your Auto Loan 202 Selling Your Car or Trading It In 202 Leasing a Car Instead 203 Seeking Professional Help 203 Smart Ways to Eliminate College Debt for Federal Student Loans and Private Loans 204 Understanding Your Student Loans 204 Repayment Plans 204 Federal Loan Forgiveness Programs 204 Refinancing and Consolidation 205 Getting Professional Help 206 How to Get Others, Such as the Government or an Employer, to Repay Your College Debt 206 Employer Student Loan Repayment Assistance Programs 207 Volunteer Work and Other Programs 208 Getting Professional Help 208 Solutions to Get Out of Payday Loan Traps 208 Understanding Payday Loans 209 Alternate Solutions 209 Debt Consolidation Loans 210 Seek Professional Help 210 Easy Fixes for Worrisome IRS Issues and Tax Debt 210 Understanding Your Tax Debt 211 Payment Plans 211 Offer in Compromise 212 Innocent Spouse Relief 212 Getting Professional Help 212 Psychological and Emotional Recovery from Debt 213 Recognize the Emotional Impact of Debt 213 Seek Support 213 Practice Self-care 213 Focus on the Future 213 The Path to a Debt-free Life 214 Remembering Your Why 214 Staying Consistent 214 Celebrating Small Wins 215 Building a New Relationship with Money 215 Debt Resources 215 Chapter 10: Damaged Credit 217 How to Understand What’s on Your Credit Reports 219 Contents of a Credit Report 219 The Importance of Reviewing Your Credit Report Regularly 220 How Your Credit Scores Are Calculated 220 What Causes Bad Credit 221 Late or Missed Payments 222 Collections and Charge-offs 222 Judgments and Bankruptcies 223 High Credit Card Utilization 223 Excessive Credit Inquiries 223 How Piggybacking Off Someone Else’s Credit Can Help Your Credit 224 The Benefits of Using Secured Credit Cards 225 Understanding Secured Credit Cards 225 Responsible Credit Usage and Timely Payments 225 Gradually Increase Credit Limits 226 The Value of Adding Rent and Nontraditional Information to Your Credit Reports 226 Harnessing the Power of Rent and Nontraditional Payments 226 Research Rent Reporting Services 227 Verify Reporting Practice 227 Consistent and Timely Payments 227 Keep Documentation 227 How to Negotiate with Creditors 228 Understanding the Importance of Negotiation 228 Assess Your Financial Situation 228 Contact Your Creditors 229 Propose a Workable Solution 229 Be Professional and Persistent 229 How to Achieve Perfect Credit 229 What Exactly Is Perfect Credit? 230 The Seven-step Formula to Perfect Credit 230 Step 1: Pull Your Credit Reports and Credit Scores 231 Step 2: Examine Your Files and Enroll in Credit Monitoring 231 Step 3: Reduce Debt and Manage Bills Wisely 232 Step 4: Fix Errors and Protect Your Credit 233 Step 5: Enhance Your Credit Files Constantly 234 Step 6: Contact Creditors and Negotiate 235 Initiating the Process: Getting Creditors to Collaborate 235 Six Objectives for Creditors’ Discussions 236 Step 7: Take Time to Educate Yourself 236 Understanding Your Existing Credit Obligations 236 Knowledge of Personalized Financial Products and Services 237 Staying Current on Credit Scoring Developments 237 Awareness of Credit and Debt Laws 237 Damaged Credit Resources 237 Chapter 11: Dollar Deficits 239 No Warning and No Good Prospects 241 Noticing a Pattern Turns into Purpose 243 Dealing with Life’s Blows 244 Creative Ways to Turbo-charge Your Savings 245 A Rainy Day Fund Versus an Emergency Fund 245 Six Ways to Jump-start Your Savings 247 What to Do If You’re Approaching Retirement and Haven’t Saved Enough 248 Assess Your Current Financial Situation 248 Set Realistic Retirement Goals 249 Create a Budget and Stick to It 249 Maximize Retirement Contributions 249 Seek Professional Financial Advice 249 Explore Additional Income Streams 250 Downsize and Cut Expenses 250 Consider Delaying Retirement 250 Invest Wisely 251 Prioritize Health and Wellness 251 Strategies for Creating and Maintaining a Realistic Budget 251 Prioritize Your Purchases 252 Set Realistic Savings Goals 252 Keep It Simple 252 Include a Miscellaneous Category 252 Track Your Spending 252 Adopt a Cash-only Mindset 253 Understand Four Important Rules of Budgeting 253 Rule #1: Avoid Overspending 253 Rule #2: Add 20% to Your Planned Expenses 254 Rule #3: Reward Yourself with Treats Along the Way 254 Rule #4: Include a Savings Category in Your Budget 255 How to Create a Strong Financial Plan B 255 Dollar Deficit Resources 257 Chapter 12: Discrimination 259 How Discrimination Hurts Us All 262 All About Employment Discrimination and the Gender Pay Gap 263 Some Facts About Redlining and Mortgage and Housing Discrimination 264 My Experience with Appraisal Bias and the Appraisal Gap 265 The Pitfalls of Predatory Lending 266 Combating Housing Discrimination 267 An Understanding of Racial Discrimination and Its Financial Impact 267 Banking Deserts in Low-income Neighborhoods 268 Why Age Discrimination Is Wrong and Its Financial Impact 269 All About Gender Discrimination, Shattering the Glass Ceiling, and the Pink Tax 270 Some Insights into LGBTQ+ Discrimination 271 Unequal Access to Health Care and Other Services or Opportunities 272 Facts About Disability Discrimination and Financial Access 272 Barriers to Financial Access 273 Limited Employment Opportunities 273 Promoting Disability Rights and Financial Inclusion 273 Five Strategies for Dealing with Discrimination 274 A Framework for Healing from Workplace Discrimination 276 Congratulations and an Invitation 276 Discrimination Resources 277 Research Resources 279 Index 287

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Author Information

LYNNETTE KHALFANI-COX is a personal finance expert, keynote speaker, and the widely read author of 16 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom. She’s a former financial news journalist and co-owner of TheMoneyCoach.net LLC, a financial education company that offers financial education consulting, financial workshops, training programs, and more.

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