How to weather a financial market crunch



Make no rash decisions

Think long term

If you have no plans to sell or rearrange your investments consider not opening  

  statements or watching the news if it creates stress



Stop buying things you can’t afford to impress people you don’t know.”--Suze Orman“

Cut back & save to build a nine month reserve

Keep contributing to your Roth--if you are not already in retirement

If your investments or income are down, it may be a good time to convert IRA’s to Roth?



Stop wasteful catalogs and annoying phone calls--To Opt Out call 1-888-5OPTOUT         

   (1-888-567-8688) Or visit  or

Declutter--Clean your home, garage, basement, car, office--Organization is power

   Give away, throw away, sell anything you do not need--Those with little have even less    

   now--Another great reason to go through your giveaways--clothes, toys, furniture

   Or call 1-800-GOT JUNK   AMVETS   PurpleHearts



Get a good cross shredder for papers with your name, address or account numbers

Be sure to shred any unsolicited mail from credit card or financial companies

Put your photo on credit cards

Do not carry anything with your social security number



Eliminate accidental late fees & finance charges with auto paying through your credit

   card or checking account with prearranged overdraft protection

Save on stamps, envelopes & time

Improve your credit score with on-time payments

Arrange direct deposit with your employer and set up auto savings as well

Simplify monthly bills by paying a year or two in advance for cable, newspaper, 

   trash…any annoying smaller monthly bills




Check all three credit bureaus for FREE and clear up any mistakes on your credit report. Close any accounts in writing not in use.

You will have to pay for your credit score. This is the number that will influence your  

interest rate. Your goal is over 780. or call 877-322-8228

Better yet, call me and I will refer you a mortgage person willing to make suggestions to improve your credit.



Ask for a CLUE Report. (Comprehensive Loss Underwriting Exchange)

   Mistakes on your property insurance claims report can prevent a home sale. or call 1-866-527-2600   



Get a professional review of the last few years of tax returns, retirement/investment plan,

   home/auto/health insurance, & will/trust. Family changes require an update.



If you are planning to sell in the next few years and have plans to do work, why not take

   advantage of more affordable materials and labor now and enjoy the finished product?



Donate your time--Habitat for Humanity, church, community

Donate any extra food or household items to your local food pantry

Donate better work clothes to a woman’s shelter



Invite friends & family in for game night or potluck

Trade books, movies, games or puzzles

If dining out--skip appetizers, dessert, and drinks-- but tip Big!



Make yourself indispensable at work.  Consider a second job or outside consulting



Unplugged TV’s, alarm clocks, DVD players in rooms rarely in use


Call me if you just received your property tax assessment and want to appeal. Or if you are contemplating any home improvements for best possible pay off. Call if you want to know what homes in your area are selling for.  Or if you want help staging your home to sell. And please call me if you just want to show off a new kitchen, bathroom or basement! 


All phone numbers and web sites are from my Money Magazine subscription. If you have any other tips, please e-mail me at or Cell 847-814-7895

 EB 11/08