economy
‘Take a deep breath and pick up the phone’: a former union organizer on how to negotiate your debts down
Carrie Joy Grimes’ new book The Joy of Money offers tip and tools for middle-class Americans seeking out stability and security
TL;DR
- Carrie Joy Grimes debunks the myth that individuals are 'bad at money,' attributing financial struggles to a difficult economy and lack of accessible tools.
- She advocates for negotiating with banks, credit card companies, and even employers, emphasizing that many people don't realize they have this power.
- Grimes highlights underutilized programs like employer flexible spending accounts, earned income tax credits, and drug discount cards as valuable resources.
- The book promotes a holistic approach to finance, combining practical 'math' with managing the 'feelings' associated with money, and ending with a call for collective organizing for economic change.
- Key advice for financial security includes building an emergency fund, aggressively paying down credit card debt, and knowing how to access unemployment benefits and social programs.