Let's talk finances

[mistifying]

If for whatever reason, you lost your job today, would you still be able to make it? If so, for how long? Do you have an "emergency fund" saved for hard times? Various financial resources state you should have 3 - 6 months of "emergency money" saved that you NEVER touch (except of course, for emergencies). The fund should include the necessary amounts to pay all your bills (rent, car pmt, insurance, utilities, gas/mass transit costs, credit card/misc loans, food, etc.). If you're married, have children or both, there should be extra money alloted. Below are a few links with good info:

can you afford to lose your job?
personal finance
savings strategies

I Hope this helps someone!

[charliekilothree]

Originally Posted by mistifying

If for whatever reason, you lost your job today, would you still be able to make it? If so, for how long? Do you have an "emergency fund" saved for hard times? Various financial resources state you should have 3 - 6 months of "emergency money" saved that you NEVER touch (except of course, for emergencies). The fund should include the necessary amounts to pay all your bills (rent, car pmt, insurance, utilities, gas/mass transit costs, credit card/misc loans, food, etc.). If you're married, have children or both, there should be extra money alloted. Below are a few links with good info:

can you afford to lose your job?
personal finance
savings strategies

I Hope this helps someone!

Good ideas. I made my MAD money policy years ago. I have never been in a bind that I could not get out of yet. I see it as part of a good budget. It really does not matter how much money you make. What matters is how much you save.

[mistifying]

Originally Posted by charliekilothree

Good ideas. I made my MAD money policy years ago. I have never been in a bind that I could not get out of yet. I see it as part of a good budget. It really does not matter how much money you make. What matters is how much you save.

Very true!

[DBlack]

Great post! This was some very interesting information. My family can go six months without work right now. We were up to a year, but recent investments have cut our liquidity some.

Again, this was some excellent advice.

[Cheese Biscuit]

I'm basically broke. I have no intention of selling my shares of stock unless there is absolutely no other choice but to sell.

[mistifying]

Thanks DBlack, I hope it helps someone at least think about their finances and possibly make a few positive changes.

CB are you broke because you don't budget or because you don't save? Let me know if I'm being too nosy. :D

[Cheese Biscuit]

Originally Posted by mistifying

Thanks DBlack, I hope it helps someone at least think about their finances and possibly make a few positive changes.

CB are you broke because you don't budget or because you don't save? Let me know if I'm being too nosy. :D

I'm broke because I'm not working a full time job. There really isn't enough money to budget or save right now. I'm employed by at least 4 different companies and basically do temporary assignments. I do have 2 IRA's and a Savings and Security plan along with shares of stock in several companies.

[mistifying]

Wow, I'm sorry to hear that CB. What do you do? Do you have a current resume? I'm so nosy!