Michelle Singletary
@michellesingletary.bsky.social
Washington Post personal finance columnist https://www.washingtonpost.com/people/michelle-singletary/
2022 Lifetime Achievement Loeb Awards winner | Author, What to Do with Your Money When Crisis Hits and 21 Day Financial Fast
2022 Lifetime Achievement Loeb Awards winner | Author, What to Do with Your Money When Crisis Hits and 21 Day Financial Fast
Reposted by Michelle Singletary
Great article (as always) Michelle! Thoughtful and genuine giving, but not at the expense of yourself and your relationship with the other, is absolutely more difficult than it sounds.
November 6, 2025 at 6:50 AM
Great article (as always) Michelle! Thoughtful and genuine giving, but not at the expense of yourself and your relationship with the other, is absolutely more difficult than it sounds.
If the person isn’t comfortable sharing this information with you or you don’t think you're equipped to help them with a budget, then urge them to find a nonprofit credit counseling agency through the National Foundation for Credit Counseling (nfcc.org).
Non Profit Credit Counseling Services | Get Out of Debt | NFCC
Get out of debt with The National Foundation for Credit Counseling, a non-profit trusted network of credit counseling agencies. Connect with a counselor!
nfcc.org
October 30, 2025 at 5:54 PM
If the person isn’t comfortable sharing this information with you or you don’t think you're equipped to help them with a budget, then urge them to find a nonprofit credit counseling agency through the National Foundation for Credit Counseling (nfcc.org).
When you manage your money well, you often become the go-to person for friends and family. The best thing might not be to bail them out, but help them figure out how to pay off debt. They need to address the root of the problem to avoid racking up more on their credit cards once they are paid off.
October 30, 2025 at 5:54 PM
When you manage your money well, you often become the go-to person for friends and family. The best thing might not be to bail them out, but help them figure out how to pay off debt. They need to address the root of the problem to avoid racking up more on their credit cards once they are paid off.
Look, I’ve been there and done that, and know that assisting people struggling to pay off their debts can be emotional, complicated and costly. I’ll begin with this rule I follow when helping financially distressed family members or friends: No discussion, no debt relief.
October 30, 2025 at 5:54 PM
Look, I’ve been there and done that, and know that assisting people struggling to pay off their debts can be emotional, complicated and costly. I’ll begin with this rule I follow when helping financially distressed family members or friends: No discussion, no debt relief.
🚨 Unsolicited offers: You may get a text about a job offer, a government grant or a promise of a loan that requires an advance fee. Don’t fall for it! Scammers know how to manipulate scared, stressed people. The last thing you need is to lose money when you’re not working.
October 29, 2025 at 2:43 PM
🚨 Unsolicited offers: You may get a text about a job offer, a government grant or a promise of a loan that requires an advance fee. Don’t fall for it! Scammers know how to manipulate scared, stressed people. The last thing you need is to lose money when you’re not working.
🤑 For-profit debt settlement: You’ve heard the ads that say a company can help settle your debts for much less than you owe. What you may not realize is that the contract you sign obligates you to pay thousands of dollars to the debt settlement company.
October 29, 2025 at 2:43 PM
🤑 For-profit debt settlement: You’ve heard the ads that say a company can help settle your debts for much less than you owe. What you may not realize is that the contract you sign obligates you to pay thousands of dollars to the debt settlement company.
📆 I’ll concede this product is better than a payday loan, but it’s still debt. If you’re not careful, these loans can add up and make it harder to get back on your feet.
October 29, 2025 at 2:43 PM
📆 I’ll concede this product is better than a payday loan, but it’s still debt. If you’re not careful, these loans can add up and make it harder to get back on your feet.
💵 Cash advances: Not only do you owe the advance fee even if you pay it back the next day, but the APR for cash advances is often significantly higher than for regular purchases. And with a cash advance, you begin accruing interest immediately. No grace period!
October 29, 2025 at 2:43 PM
💵 Cash advances: Not only do you owe the advance fee even if you pay it back the next day, but the APR for cash advances is often significantly higher than for regular purchases. And with a cash advance, you begin accruing interest immediately. No grace period!
🚗 Payday or car title loans: The fees for these loans may seem relatively reasonable, but if you look at the annual percentage rate (APR), they often amount to triple-digit interest rates or more. Title loans often carry monthly finance fees as high as 25 percent.
October 29, 2025 at 2:43 PM
🚗 Payday or car title loans: The fees for these loans may seem relatively reasonable, but if you look at the annual percentage rate (APR), they often amount to triple-digit interest rates or more. Title loans often carry monthly finance fees as high as 25 percent.