The Financial Recovery Workbook: A Step-by-Step Plan for Regaining Control of Your Money and Your Life During and after a Personal Financial Crisis

by Michele Cagan CPA

Overview

Plan your path to financial freedom with guidance—and reassurance—in The Financial Recovery Workbook so you can stay calm and prioritize spending to get your finances back on track.

It can happen to anyone: no matter how well you’ve planned or saved, an emergency—job loss, a severe illness or accident, divorce, or weather disaster—can put a big hit on your finances. The steps you take to stay afloat can have a huge effect on how you and your finances recover from disaster.

The Financial Recovery Workbook provides a step-by-step guide to help you make a plan to get your financial life back on track. You’ll learn which bills to prioritize, whether or not you use credit cards—and which cards are most beneficial—how to find quick cash to pay for necessities, whether or not you should dip into your retirement fund, and more! With expert financial advisor Michele Cagan as your guide, discover how to regain control of your finances and change your relationship with money for good.

Product Details

ISBN-13:	9781507216415
Publisher:	Adams Media
Publication date:	07/06/2021
Pages:	240
Sales rank:	387,926
Product dimensions:	5.90(w) x 8.90(h) x 0.70(d)

About the Author

Michele Cagan is a CPA, author, and financial mentor. With more than twenty years of experience, she offers unique insights into personal financial planning, from breaking out of debt and minimizing taxes, to maximizing income and building wealth. Michele has written numerous articles and books about personal finance, investing, and accounting, including The Infographic Guide to Personal Finance, Investing 101, Stock Market 101, and Financial Words You Should Know. In addition to her financial know-how, Michele has a not-so-secret love of painting, Star Wars, and chocolate. She lives in Maryland with her son, dogs, cats, and koi. Get more financial guidance from Michele by visiting SingleMomCPA.com.

Table of Contents

Introduction 10

Chapter 1 Facing the Fears and Finding the Facts 13

Chapter Worksheets

Financial Fears Inventory 28

Separate Feelings, Thoughts, Facts, and Actions 30

Chapter 2 Beginning with Your Starting Point 33

Chapter Worksheets

Ongoing Crisis Costs 48

Current Cash Flow 50

Debt Table 52

Know Your Net Worth 54

Chapter 3 Creating a Plan to Move through the Crisis 57

Chapter Worksheets

Expense Priority 75

Cash Resources 78

Periodic Expenses Calendar 80

Crisis Financial Goals 82

Long-Term Debt Management 84

Short-Term Crisis Budget 86

Savings Management 88

Chapter 4 Finding Ways to Bring in or Free up More Money 91

Chapter Worksheets

Skills Inventory 116

Networking Contacts Inventory 118

Hidden Cash Resources 120

Items to Sell 122

Retirement Withdrawal Plans 124

Estimated Taxes 128

How Much Should I Borrow? 132

Resources for Aid Checklist 134

Chapter 5 Reducing Money Going Out 137

Chapter Worksheets

Prioritize Monthly Bills 178

Paying Monthly Bills Calendar 180

Hidden Expenses Checklist 181

Expenses to Cut 182

Should You Consider Bankruptcy? 183

Working with Creditors Log 184

Credit Card Rewards Deals 186

Chapter 6 Getting Back on Track and Fortifying Your Finances 189

Chapter Worksheets

Restoring Your Credit Score 209

Recovery Budget 212

Build Up Emergency Savings 214

Retirement Savings Needs 216

Money In, Money Out 218

Accelerated Debt Repayment 219

Debt Paydown Table 220

New and Revised Goals 224

Conclusion: Taking Stock and Moving Forward 227

Resources 231

Index 234

Editorial Reviews

Michele Cagan writes with such clarity and has a gift of making a complicated financial issue understandable and accessible. The fact is personal finance is like rocket science. It’s hard and complicated. This workbook I’m sure will help you navigate when life impacts your money and help you make better financial decisions.”

—Michelle Singletary, Nationally Syndicated Personal Finance Columnist, The Washington Post

From the Publisher