Search results for emergency fund
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Posted
Oct 05 2007, 10:42 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Lots of experts are openly worrying about a slowdown in the U.S. economy . How would a recession affect you and your pocketbook? Blueprint for Financial Prosperity says most people probably wouldn't suffer. But just in case a recession causes you to become frugal-not-by-choice, AKA unemployed , now's the time to pump up your emergency fund. Blogger Young and Broke tells you how.
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Posted
Oct 12 2007, 07:27 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
Hidden in my apartment is a slowly growing collection of small bills. I’ve been setting aside ones and fives toward the goal of having cash on hand for emergencies.
Some Smart Spending message board readers do this, too. Whether they call it pin money, bail money, “gittin’ out of town” money or just a collection of presidential quarters, having a little ready cash makes them feel, well, ready.
The U.S. government wants us to be ready. One of the Department of Homeland Security’s Web sites, www.ready.gov, recommends keeping some folding green on hand, right alongside the food, water and bucket toilet.
After all, some emergencies mean power failures -- bye-bye, ATMs.
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Posted
Oct 23 2007, 02:23 PM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
A woman cries as she gases up a car carrying her anxious family and household belongings. Families are forced to flee, with nowhere to go. These are among the images conveyed by bloggers who remain in the San Diego area, where raging wildfires have destroyed 1,000 homes and forced massive evacuations. "Three of my co-workers have already lost their homes and 300 of them are homeless tonight," Scott Gulbransen reported after he and his family were allowed to return home late Monday. "This roller coaster ride we're on seems to never stop." After watching TV coverage of a fire near his family home, a former resident asked: "Are you ready for an emergency?" He urged everyone to take stock. Do you have food, water and essential documents ready in case you'd have to evacuate? Do you have adequate homeowner's insurance ?
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Posted
Oct 25 2007, 06:47 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Sarah Winfrey at partner blog Wise Bread . Most of us have ideas we think might sell, and most of us think we'd love to work for ourselves. Is that really a good idea? Here are 10 things to consider if you're thinking about starting your own business. Do you care? You have a good idea that might make some money, and you envision yourself conducting business by cell phone while watching the waves in Fiji. But do you actually care? Do you want to make people's lives better, easier or more fulfilling through your new business? If you don't care, you'll run out of steam before the long haul of building a business even gets started. Do you have what it takes? The reality of an entrepreneur's life is, well ... craziness. Long hours. Disappointments. Patience even when the bills are piling up. You are investing all of yourself and much of your future in the public's response to a product. If you don't have the persistence, the blasted stick-with-it-ness to keep going no matter
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Posted
Oct 25 2007, 09:55 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
A surprise find of $100 bills in a stocking cap and a post here about keeping an emergency cache prompted Young and Broke to write about having cash on hand in case of events like the Southern California fires. Readers' responses to Y&B's post remind us that disaster can be only moments away. Sense to Dollars , who keeps $200 in her wallet, wrote about housing evacuees from the California wildfires. (Sense writes movingly at her own site about what she would save if she had to flee her home.) Another commenter at Y&B recounted what happened when Hurricane Katrina evacuees arrived en masse in Baton Rouge, La. ATMs ran out of cash, credit card service was slow or unavailable, and restaurants ran out of food. "This lasted about a week, until everything finally started running somewhat normal," BradM wrote.
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Posted
Oct 25 2007, 11:25 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Are you suddenly having to train others to do your job even though you're not getting new responsibilities? Are you no longer invited to meetings you used to attend, even though you don't have a scheduling conflict? These may be indications that you're no longer needed or wanted on the job. Flexo at Consumerism Commentary lists five signs that you are about to be kicked to the curb by your employer. If you're getting blamed for tiny problems or your co-workers are taking bets on your demise, it's probably time to start looking for a new job .
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Posted
Oct 30 2007, 07:32 PM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
If Joe Torre can lose his job, you can too. That's Flexo's point in a post at Consumerism Commentary . He says every worker should have a plan to prevent stagnation and debt if the job should evaporate . That includes access to six months of living expenses, a current resume and portfolio, and a ready file of all those special notes and letters that praise your good work. Keep up with developments in your field and know your industry's economic outlook. And remember that you're always networking, so carry a business card , even if you have to make them yourself. A bonus piece of advice: You can withdraw your contributions to your Roth IRA without penalty to get through the lean times. (That doesn't apply to the earnings.)
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Posted
Nov 06 2007, 06:41 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post is from partner blog Blueprint for Financial Prosperity . There's a ton of talk that we're moving toward a recession. That's right -- a recession. Isn't that horrible? Well, sort of, but what exactly is a recession? A recession, by definition, is when the gross domestic product declines for two or more consecutive quarters. It's a period of economic slowdown when companies earn less and pay less -- and life is generally a little less prosperous. How does that affect you? What should you do to prepare if a recession, specifically a prolonged recession, hits? It's quite simple: You should prepare for the possibility that you could lose your job. In a recession, companies often scale back operations as sales lag, and jobs are often one of the things to hit the chopping block. To prepare for this: Keep your ear to the ground and make sure the first you hear of your job loss isn’t when your boss calls you to the office to deliver the bad news. Pull back your spending and boost your
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Posted
Nov 08 2007, 08:05 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This post comes from Sarah Winfrey at partner blog Wise Bread . A lady I know of died last night. It was expected; she had been diagnosed with incurable cancer last spring. I didn't know her well. I wish I had, as her friends are going to great lengths to honor her. It's been really cool to see people coming together, comforting each other, saying meaningful things to each other. One of the things friends say has comforted them is that her family is in a secure place financially. I'm not sure what plans she had in place, but her family has been able to cover her medical care and will be able to pay for her funeral without a lot of trouble. Friends are comforted that the family won't have to worry about money as they grieve the loss of this wife and mother. This has made me think hard. You can do a lot before a crisis hits to help your family when it does. Here are things I'm glad I have and ones I intend to look into. Health insurance. I have great health insurance and will have better
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Posted
Nov 14 2007, 11:01 AM
by
Donna Freedman
Rating:
Money Blog: Smart Spending Blog - MSN Money
A month ago today, I became debt-free – made the last payment to a relative who had lent me some money. This loan had allowed me to throw a big chunk of cash against credit card debt accrued during divorce proceedings. (Lawyers bill by the hour, you know.) Once the credit card was paid in full, I started repaying the family loan. As money came in through diligence or chance, I’d let it build to $300 and then write a check. I'm not sure why $300 became the magic number; it just sounded good. Now I'm debt-free: no student loans (I'm blessed with a scholarship), no car payment (please let it last another six or seven years), no credit card debt (and there won't be any more). It feels about how you'd think it would: pretty darned great. 'A perpetual grin' This relative wasn’t dunning me. But it bothered me to owe money. Some people count sheep; at night I would lie in bed counting ways to stretch available funds to reach the next $300. Reading some postings from a Smart Spending message board
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