Don't Get Caught With Your Skirt Down: A Practical Girl's Recession Guide (Paperback)

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Key Phrases: peak oil, median net worth, stuffed our money, Great Depression, Wall Street, Perspective Check (more...)

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The U.S. economy is crashing. Don't Get Caught With Your Skirt Down" offers fearless, funny, and practical solutions to survive and even profit from the recession, no matter how bad it gets. Get ready to ditch fear and recession-proof yourself! This is the essential women's guide for surviving and thriving in this recession. In this book you'll learn . . . Where the economy is headed and what that means for you; How to protect yourself from the top three causes of bankruptcy; How to create a backup income; Essential skills to help you thrive; How to deal with your big fat mortgage; How to keep your job (or your husband's); How to haggle like a pro; How to cut your food bill in half; How to have no car payment; How to get the stuff you need, cheap; The advantages of self- sufficiency; How to look gorgeous without spending a fortune; and where to stuff your money so the recession won't vaporize it .

Excerpt. © Reprinted by permission. All rights reserved.

1

Don't Panic! Prosper

Recessions Are Not Scary; Not Knowing What to Do About Them Is

What the hell is going on? The housing market is in free fall. Grocery bills are through the roof. It costs me $70 to fill up my car's gas tank. I just witnessed a gas station attendant get bawled out by a caffeinejolted, stressed-out soccer dad. And is it me, or did the price of salmon just double?

Welcome to our new economy! This is not a test, and no, it's not going to go away anytime soon. It's time to hunker down, get smart, and make some decisions about the bumpy road ahead. Leave your fear at the door and join me in meeting the challenges of this recession, thriving, and coming out ahead. After reading this book, you will be a full-fledged "Recessionista," capable of withstanding any challenge this recession throws your way.

But Economics Is Boring!

Yes, indeed, for most people, economics ranks up there with watching paint dry. But voluntary ignorance of it would be like not knowing how you get pregnant. Not smart. In either scenario, you end up frazzled and sleep deprived, with a crippling addiction to peanut butter.

Why You Need to Brush Up on Boring Economics

- We could be headed into a situation worse than the Great Depression.

- Your expenses will be going up as inflation does. Don't like last week's $200 grocery bill? How about $1,000 per week? Yes, it can happen.

- Those who are unaware or ignorant of the impending economic collapse will likely face a huge downgrade in lifestyle. Think SoHo to HoBo.

- Those who inform themselves, plan, and adapt have an excellent chance of maintaining or improving their standard of living, avoiding loss of wealth, and even increasing their wealth.

Your Man Is Not Your Financial Plan

Ladies, even if the man in your life (your husband, dad, boyfriend, brother, or boy toy) is rich, kind, and generous, you cannot assume that your financial destiny will be handled well. When it comes down to it, you are in charge of your money and your financial future. Nobody is going to take care of this for you.

- Only 52% of married people will reach their fifteenth anniversary.

- Only 61.4% of divorced single mothers are awarded child support.

- Of the single mothers who are awarded child support, nearly 53% do not receive the full payments that are due to them.

- Estimates vary, but women typically experience a 27% to 45% reduction in standard of living, and sometimes poverty, immediately following divorce; whereas men increase their standard of living by up to 15% following divorce.

Now, before you start squawking about how you and Mr. Wonderful will be married forever, consider the following:

- The average widow outlives her spouse by fourteen years.

- 80% of women outlive their spouses.

- The average age of a widow is 56.

- Widows are three times more likely to live in poverty than married women of the same age. And most (80%) of the impoverished women were not living in poverty when their husband was alive.

Make no mistake about it -- money is critical to your well-being. Cash might be cold comfort during tumultuous times, but it's certainly better than zero comfort. Money plays a crucial role in having a great life and achieving your goals.

This Recession Is Hitting Women Harder than Men

Unemployment since March 2007 has gone up more rapidly for women than for men. In the same period, women have seen a sixfold wage decrease as compared to men and are 32% more likely to have a subprime mortgage, thus putting women at a disproportionately higher risk of foreclosure. To add insult to injury, women still earn only 77 cents for every dollar a man makes, and have significantly less in savings to fall back on.

Your Financial Adviser Is Not an Economist

Recessions arrive with their own rules affecting your money. Don't expect your financial adviser to be an economist. They are two very different things. You don't expect your gardener also to be your hairstylist, right?

Keep in mind that financial advisers are the street peddlers of money market accounts, mutual funds, and retirement accounts. They get paid regardless of what the economy is doing, so they'll do exactly what they've always done. They will undoubtedly advise you to follow the same rules they always preach: diversify and sit tight, because the market "always rebounds." As you watch your net worth wither away, they'll be touting the same story, patting your hand, and telling you that everything will be all right.

Do the "Big-time" Insiders Know Something We Don't?

Since 2006, the inside players on the U.S. economy and political scene (for example, George Soros, Dick Cheney, and Jim Rogers) have been investing their assets overseas and removing/ selling assets tied to the United States. They saw the writing on the wall and they don't want their wealth to evaporate. Even George W. Bush bought a 100,000-acre ranch in Paraguay. Of course, Paraguay doesn't have an extradition treaty with the U.S.... hmmm.

Food for Thought for Recession Doubters

Are you one of those doubters who believe that America is not already in, or going into, a recession? On the surface, it might not seem as if we are in any serious trouble yet. But take a lesson from history -- the stock market crashed in 1929, but Main Street didn't feel the full wrath of the Great Depression until 1931. Right now, the canaries in the coal mine are dying. As of October 2008:

- U.S. home prices are down 19.5% from peak and still falling (the U.S. real estate market peaked in 1927 prior to the Great Depression).

- U.S. auto sales are down 40% in one year (Ford and GM are on bankruptcy watch).

- Inflation is at a thirty-year high.

- U.S. dollar value is collapsing.

- Unemployment is at a seven-year high and up 159,000 lost jobs in September 2008 alone.

- Personal bankruptcies are at record highs.

- Home foreclosures are at record highs, and rising.

- Several international banks are warning their clients of a U.S. market collapse.

- Freddie Mac and Fannie Mae, the underpinning of more than 50% of the U.S. mortgage market, have been taken over by the government.

- Lehman Brothers filed for bankruptcy and Wachovia and Washington Mutual were forced to be acquired for pennies.

- Foreign retailers are refusing to accept U.S. dollars.

- The Dow Jones is down more than 25% from its October 2007 peak.

The Silver Lining

Being aware of the rules of the recession and planning accordingly might mean the difference between barely making it and thriving. Erasing your debt and growing your wealth during a weak economy can even set you up for major wealth later on, once the storm has passed. Yes, it's true, you might be financially better off after a major recession or depression than you are now.

So join us in implementing practical steps to protecting yourself and even coming out ahead -- some cases, way ahead.

Copyright © 2008 by Jill B. Keto --This text refers to an alternate Paperback edition.

Product Details

• Paperback: 282 pages
• Publisher: Bare Market Press (August 27, 2008)
• Language: English
• ISBN-10: 0982019300
• ISBN-13: 978-0982019306
• Product Dimensions: 8.5 x 5.5 x 0.7 inches
• Shipping Weight: 15 ounces
• Average Customer Review: 3.8 out of 5 stars  See all reviews (19 customer reviews)
• Amazon.com Sales Rank: #1,563,180 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

5.0 out of 5 stars Covers the universe of recession survival, January 3, 2009

By	Jeanne F. Dolak "Ragin' redhead" (NYC and Kalamazoo) - See all my reviews (REAL NAME)

This review is from: Don't Get Caught with Your Skirt Down: A Practical Girl's Recession Guide (Paperback)

This is not chicklit! Well researched and iconoclastic view of America's short-term economic future (probable deep recession), and how to survive and survive well. This is Econ and Finance 101 mulched down to understandability and peppered with other useful stuff like blocking the theft of your husband to fixing your own Volvo to learning a second language, preferably Mandarin. Jill's book is going into my research library next to the Merck Manual and James Beard's American Cookery.

5 of 5 people found the following review helpful:

5.0 out of 5 stars A Must-Read for Right Now!, September 16, 2008

By	J. Macris "J Team Mom" (Annapolis, MD United States) - See all my reviews (REAL NAME)

I found this book very informative and entertaining. All women should have read this book YESTERDAY! It has so much great information in an easy-read style. This would be a really good gift for college-age students and those just starting out, so they can hopefully avoid some of the financial mistakes others of us have had to address.

4 of 4 people found the following review helpful:

5.0 out of 5 stars Witty and Informative, January 12, 2009

By	K. Stout - See all my reviews (REAL NAME)

This review is from: Don't Get Caught with Your Skirt Down: A Practical Girl's Recession Guide (Paperback)

Jill Keto discusses a sobering topic in a witty way. In her wonderfully informative, quick-read recession help guide, she clearly explains the basics of an economic recession, as well as providing sound analysis and helpful tips so one can sustain through these difficult times.