Wed, 20 May 2020
We know we need an emergency fund, but how can we do that in the middle of the coronavirus crisis? Today we’ll share the strategies you can use now to get a jumpstart on saving! How to Save MoneyRight now many states are opening up, but we’re still encouraged to stay home as much as possible. And that’s most likely affected you on several levels, including your finances. Last episode, we discussed steps you can take to shore up your budget and handle the bills when you’re dealing with a job loss or significantly reduced hours. This week, we’re switching gears and digging into one of the fundamental things you need to have – savings. We’ve heard it so many times, we need to have an emergency fund. Now it’s really both a necessity with routines, work schedules, and budgets being in flux for at least the next few months. But can you save and build up your financial cushion during a time like this? How can you create a plan when you’ve been thrown into the middle of all this? On the podcast, I have Jeff Anzalone from Debt Free Doc here to share how he and his wife got to that point. As you just heard in the teaser, when he first started things, they looked like a mess. The job he had planned on taking fell through. So here he was dealing with a massive amount of debt, no job, and a wife and baby to take care of. So in this interview, we’ll get into how they came up with a plan quickly. We’ll also get into not just the process he used to get out of debt, but what changes they had to make with their budget and more to start building savings and more. We also have Joe Mecca from Coastal back on the podcast. He’s a natural saver so he is sharing tips on how to make the process easier and less stressful. In this episode we’ll get into:
Let’s get started! Resources to Easily Stay on Top of Your MoneyHere are some resources we mentioned in the episode as well as some other handy articles to check out:
Thank You to Our Sponsor Coastal!Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today! We’ve been Coastal members for a few years have been happy with their services. If you’re a member and you’ve been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden. Support the Podcast!Thank you so much for listening to the podcast!
Music CreditLike the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.
Direct download: How_to_Master_the_Art_of_Saving_During_The_Coronavirus_Crisis.mp3
Category:personal finance -- posted at: 9:00pm EDT |
Wed, 6 May 2020
Many families are dealing with the financial fallout from the coronavirus, including losing their income and jobs. See how you can adjust your budget and get the resources you need to ride out these tough times! How to Cope with Job Loss As of right now, around 30 million Americans have filed for unemployment in the past six weeks. Besides the health risk of coronavirus – which should NOT be ignored or downplayed – a huge concern of this crisis is the financial fallout. How do we keep going through these tough times? Which is why I wanted to do this mini-series. Part of the challenge – at least to me as I’m putting this together – is reading, hearing, and seeing how different things play out depending on many factors. Yes, we’re in this together, but for a couple who’s lost one or both incomes, or one that’s seen their retirement savings seemingly crash, those are completely different ball games than a couple who’s trying to balance taking care of their kids at home while working remotely for example. Each has its own challenges and so what I decided to do is break up the mini-series episodes based on different situations families may find themselves in. There are key takeaways, I think all of us can learn from and pick up, but I did want to highlight some scenarios so this mini-series can be helpful and relevant as possible. And they are based on what you’ve sent in about what you’re dealing with right now. So thank you, I’m grateful to have your input on this. Today I want to talk about one of the biggest ways many couples are being financially affected by this – loss of income. Whether it’s being furloughed, seeing your hours drastically cut, or losing it altogether – it can be a heavy weight on you. Ani is sharing her story about how she’s dealing with it. We also have some fantastic experts like personal finance author Toni Husbands, Coastal Credit Union’s Joe Mecca, and small business consultant Sylvia Inks. They’re offering tips and resources to help make ends meet and steps you can take to shore up your finances not just now but in the long run. In this episode, we’re discussing:
Let’s get started! Resources to Easily Stay on Top of Your MoneyHere are some resources we mentioned in the episode as well as some other handy articles to check out:
Thank You to Our Sponsor Coastal!Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today! We’ve been Coastal members for a few years have been happy with their services. If you’re a member and you’ve been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden. Support the Podcast!Thank you so much for listening to the podcast!
Music CreditLike the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.
Direct download: Coronavirus_and_Your_Money_MiniSeries_Dealing_with_Losing_Your_Job_and_Income.mp3
Category:personal finance -- posted at: 3:21pm EDT |