I borrowed this book from the library not because we are having to downsize, but rather to get a perspective from someone who had downsized. I was curious as to their experience and advice in coping with having to downsize versus choosing to.

The book begins with an introduction where the husband of one of the authors comes home and announces that they are going to need to “cancel Christmas”. He had just lost his job and Christmas was just a few weeks away. The chapters follow in a logical order, with the first one being dedicated to dealing with the grief of the job loss.

After reviewing the steps in the grieving process, the authors discuss the importance of taking stock of where you are financially. How much money do you have and how long will it last? Next begins the cuts in discretionary spending with the goal to stop the flow of money leaving the household. The topics including cutting back on eating out, renting movies instead of buying, and canceling cable TV. We’ve done these things by choice, not because of necessity. This method will work for those who want to downsize not because they are being forced to.

Other chapters including getting control of the food budget, saving money on child care expenses, and methods of funding college expenses, and preparing for downsizing if you see it coming. The book is an easy read and presents the financial topics in a well organized manner. I think it is very comprehensive and would make a great read if you are needing to downsize or would simply like to explore your options.

The authors of this book are Hope Stanley Quinn and Lyn Miller-Lachmann. Since it is an older book (published in 1997) it can easily be found at your local library.