Managing Your Money When You Don't Have Any

There can be a lot of messy emotions like guilt and shame, tied up with money. And when there’s not enough of it to go around, it gets even harder. Former financial advisor and counselor, Erik Wecks, knows all about the struggle and he wants to help you change. Not the way you spend, but what you believe about money. So he's written How To Manage Your Money When You Don't Have Any.

 How To Mange Your Money When You Don't Have Any

What makes this book so helpful?

1. It’s for the 78% of Americans who are living paycheck-to-paycheck. The author candidly talks about his financial struggles. And he clarifies in the introduction, “So if your concerns revolve around what will happen to your child’s financial aid when you gift them a large portfolio of stocks, this book may have little to offer you. On the other hand, if your concerns revolve around how to make sure you can afford to pay the mortgage on an upside down house so your child has a roof over their head, this book is written for you.”

2. Wecks is blunt. Things happen—medical bills, car repairs, household maintenance— and you need savings to account for those things.

“If you are paying for cable and not saving for an emergency, you may value cable more than you value your ability to pay for food, clothing, and shelter for your family.”And, “Our desired values say one thing, and financial choices say another.” It’s brutal, and it may sting, but it also may but it also may be the very thing you need to hear. 

3. Wecks includes a fictional case study about a dentist and the receptionist who works at the dentist’s office. It’s an excellent illustration that having a hefty paycheck doesn’t mean more financial security. Higher expenses can be a trapping of higher income.

Wecks lays out an 8-step financial roadmap that you can follow. He also teaches two strategies to secure your basic needs.

Live debt-free.

Live below your income and save for a rainy day. (He does acknowledge that some readers won’t be able to save because there is just no money left over.)

Currently, How To Manage Your Money When You Don’t Have Any is available on Kindle Unlimited so if you have a KU membership, you’ll be able to read it for free. Or purchase a physical copy of How To Manage Your Money When You Don’t Have Any here.