In my article on the Kiplinger Advisor Collective, I discuss the unprecedented number of major natural disasters that have occurred in the United States in 2023. It provides ten steps for individuals and families to recover from a natural disaster, emphasizing the importance of prioritizing physical and mental health, documenting damage for insurance claims, applying for FEMA assistance, …
Life is not a bed of roses. You may experience unpleasant and unexpected incidents in your life in which you need an emergency fund. Bankrate reports that 1 in 5 Americans don’t have an emergency fund. You never know if or when an injury, a financial loss, a disaster, a disease, or a bad situation will …
According to a Bankrate survey, 23 percent of respondents said their biggest financial regret is not having enough money in their emergency savings to withstand the COVID-19 outbreak. The coronavirus pandemic has impacted the financial standing of many Americans. While jobless claims have fallen since late March, nearly 18 million people are still receiving unemployment …
How Much Do I Need in My Emergency Fund During COVID-19 Read More »
Lynnette Khalfani-Cox, The Money Coach explains why despite the impact of COVID-19 on your finances you still need to find a way to save money for future emergencies and goals. Transcript Lynnette Khalfani Cox: Saving money is definitely hard these days, but you still got to do it. Let me tell you guys about why …
COVID-19: Why Saving Should Be Your Top Priority Read More »
Saving money, and especially having an emergency fund, is actually incredibly important. Here are 7 reasons why you should save more money and working toward building your emergency cash cushion.
In a recent interview I explain the difference between a rainy day fund and an emergency fund. I also share 6 tips to help jump start your rainy day fund. A rainy day fund is designed to cover one-time events without blowing your monthly budget. For example, $500 set aside just in case the sump …
How Is An Emergency Fund Different From A Rainy Day Fund Read More »
Do you have enough socked away to cover your bills should you get slipped a pink slip? Typically I would say you should have enough savings to cover three times your monthly living expenses, but given this economy and the skyrocketing unemployment rate, six or nine months worth of savings is more ideal. Here are …
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