4/3/2025 Episode #49 – MONEY MANAGEMENT IN TOUGH TIMES with LURIE DAVIS

In this powerful and practical episode, Carole sits down with Lurie Davis, founder of Lurie Davis Wealth Management (https://www.luriedavis.org/), to talk straight about financial survival and long-term strategy during politically and economically turbulent times—especially for communities directly impacted by the Trump administration.

With decades of experience guiding clients through recessions, political shifts, and personal financial crises, Lurie offers concrete, actionable steps to stabilize your finances and build a plan for the future—even when it feels like everything is working against you.

Whether you’re worried about job security, rising costs, access to healthcare, or just trying to make ends meet, this episode is packed with strategies to help you feel less overwhelmed and more empowered.

What You’ll Learn In This Episode:

• How to create a “crisis budget” that keeps your essentials covered without spiraling into debt
• Why it’s time to revisit your spending values—not just your spending habits
• Ways to maintain or rebuild credit even after late payments or financial hits
• Smart moves to make now if you’re worried about long-term stability
• What to ask before taking out any type of loan or hardship withdrawal
• How to protect yourself if you’re facing job instability or furloughs
• How to navigate benefits, side income, and government assistance without shame or fear
• The psychological side of money: how fear and financial insecurity are weaponized—and how to push back

Lurie Davis’s Top Recommendations for Managing Money in Tough Times:

1. Create a Priority-Based Budget. Focus on essentials: housing, food, medication, transportation. Everything else is negotiable for now.
2. Pause Non-Essential Spending. Even small luxuries can drain your reserves in uncertain times. Be ruthless and strategic.
3. Check and Monitor Your Credit Weekly. Use free tools to monitor changes and dispute errors. It matters more than you think when you’re trying to recover.
4. Avoid High-Interest Loans and Cash Advances. These might feel like relief, but they often dig a deeper hole. Exhaust all alternatives first.
5. Talk to Your Lenders and Service Providers. Most people wait too long to ask for help. Many companies offer hardship programs—but only if you ask.
6. Document Everything. Keep records of calls, payments, letters, and any agreements made with creditors or service providers.
7. Diversify Income Streams. Side hustles, remote work, and bartering systems are survival tools. Don’t rely on a single paycheck.
8. Stay Politically Aware and Financially Prepared. Policy changes can have direct consequences on your wallet. Make your financial plan responsive, not just reactive.

==========================

Lurie (Lou) Davis is a native of Lynn, Massachusetts. He is a leader and expert in Investments, Financial Planning, and Wealth Management. He received his Bachelor of Science in Psychology and a Minor in Business Administration from Springfield College in 1986

Lurie has worked for 38 years in the financial services community. Currently, Lurie works as a Registered Investment Advisor, Financial Planner and Wealth Manager. He is the CEO and President of Lurie Davis Wealth Management, Investments, and Financial Planning based in Lynn, Massachusetts.