Being Wise With Your Money During a Crisis (Part 1 of 2)

In this first part of a two-part episode, Focus on the Family host Jim Daly welcomes financial expert Michelle Singletary to discuss how to manage money wisely during times of economic crisis. Singletary emphasizes the importance of emotional resilience, faith-based financial discipline, and practical budgeting strategies, drawing from her own upbringing with a frugal and resilient grandmother. She shares personal anecdotes about her family's financial struggles and the lessons learned from her grandmother’s unwavering commitment to paying bills on time and refusing to apologize for not being able to afford luxuries. The conversation covers core principles like prioritizing giving, building an emergency fund, using credit responsibly, and adopting a 'small-to-large' debt payoff strategy for psychological momentum. Singletary challenges the notion that financial success is tied to income level, highlighting that even high-earning professionals can struggle with money management due to poor habits and overconfidence. She advocates for living within one’s means, saving during good times, and preparing for future crises—echoing the biblical story of Joseph as a model of foresight and generosity. The episode concludes with a call to action for listeners to request Singletary’s book, *What to Do with Your Money When Crisis Hits*, as a practical guide to financial stewardship rooted in faith and discipline.