Is an employer sponsored pension part of your retirement plan? Perhaps you are lucky enough to work for a company that offers a pension. But counting on that pension is a risk. Don't have a pension? You might be luckier than you think. Even companies that seem very strong can be taken over by competitors who won't honor the pension commitments … [Read more...]
Market Stressing You Out? Here’s a Plan
Are you reaching for the antacid as the stock market takes you on another dip? You're not alone. Before you do anything, sit down & breathe.There are some simple things you can do to help you feel less anxious about the market & the economy. The most important way to lower your stress levels is by getting enough sleep--7-9 hours of actual sleep. … [Read more...]
How to Prepare for a Job Loss
If you would lose your job this week what would you do? Do you have a Plan B? And C? And D? If you have a Plan B ready to go you won't worry as much. What types of jobs would you apply for? Is your resume ready right now? What expenses would you cut? What would your action plan be? Would you use non-traditional ways to search for a job? … [Read more...]
How Much Money Should You Have in an Emergency Fund?
Wow, 50% of Americans say they do not have an emergency fund to cover a $2000 expense such as an unexpected bill for car repair, home repair, a medical emergency, or legal expenses. Of course no one can predict those bills, that's why a person has an emergency fund. Yet cars do break down, roofs leak, and neighbors can sue. Many who declare … [Read more...]
Managing Financially Awkward Situations
You are asked to go someplace you can't afford. You are asked to be in a wedding & you can't afford it. You know the situations. We all do. What to do? You can say no. You can say the budget is tight right now. You can say you are saving up for something this month. You can suggest an alternative. Just don't continually wreck the budget by … [Read more...]
HELOC as Emergency Fund
Can you use a Home Equity Line of Credit (HELOC) as an emergency fund? Yes. But to be a true emergency fund you'll need to not use it until absolutely necessary. Don't let the line of credit tempt you to use it to buy a fancy new tv or a new couch for example. That's not a true emergency. Getting laid off from your job and needing to put food … [Read more...]
The Best Money Advice in 10 Words or Less
This is a list of advice that readers sent in to the Simple Dollar using ten words or less. I think they came up with some good ones! Lots of comments there too.Hmmm . . . maybe we should be embroidering some of these sayings onto nice linen & then framing them. lol Click title for link at the SimpleDollar. … [Read more...]