Spend Well, Live Rich with Michelle Singletary

In this PBS-aired documentary, Washington Post financial advice columnist Michelle Singletary speaks to a small live audience about her seven “money mantras,” including “Is this a need or a want?” and “Cash is better than credit.” As in her same-titled book, Singletary's touchstone is her grandmother, Big Mama, who managed with an annual income of $13,000 to raise five children and pay off a car loan and mortgage before she retired. Singletary encourages people to acquire only what they can afford to buy with cash, invest in things that will appreciate in value, consider their core values and relate them to even small expenditures, recognize that minor expenses quickly add up, and avoid investment traps. Singletary argues that wealth means having access to one's basic material needs, a job, loved ones, and a home, and asks viewers to value time, family, and spirituality over material objects. While her advice on living within one's means offers nothing new, Singletary's friendly, empathetic manner and sense of humor lend impact to her presentation. DVD extras include a 20-minute Q&A with the audience. Recommended. Aud: H, C, P. (M. Puffer-Rothenberg)