If you are lucky enough to still be employed now is a great time to begin or boost your emergency fund, especially since there are fewer temptations to spend in this time of coronavirus.Recently The Wall Street Journal published “35 ways to jump-start your emergency savings.” among the suggestions:If you are paid bi-weekly you get…
Category: emergency fund
How to build an emergency fund in the midst of an emergency
Now is not the time to stick your head in the sand and bemoan your situation! You are not alone.National surveys by the Federal Reserve have found that many households would struggle to handle an unexpected $400 expense. Writing for The New York Times, Ann Carrns provides this helpful advice from finance experts: Even small…
Your Money: A Hub for Help During the Coronavirus Crisis (The New York Times)
“If your income has fallen or been cut off completely, we’re here to help. This guide will connect you to the basic information you’ll need to get through this, including on government benefits, free services and financial strategies.” By Ron Lieber and Tara Siegel Bernard https://www.nytimes.com/article/coronavirus-money-unemployment.html?te=1&nl=your-money&emc=edit_my_20200323&campaign_id=12&instance_id=16999&segment_id=22635&user_id=bde4c6c63beab087f13b761e1ee9fe1e®i_id=8372066420200323 What you need to know: How unemployment insurance works…
Easy way to build an emergency fund
According to the IRS, around 72% of Americans received a refund on their taxes in 2019. This extra cash may be the largest check some people receive all year and can be a perfect opportunity to start—or grow—your emergency savings funds.Learn how your tax return can kickstart your savings. The Consumer Financial Protection Bureau’s guide…
Trump shutdown over for 3 weeks: What to do without paycheck?
FINRA offers tips on what to do when you can’t make ends meet due to job loss or being forced to work without pay (what used to be considered illegal). Job Interrupted—A To-Do List for Tough Times “Many of us can identify with the plight of the furloughed federal worker. That’s because we have experienced…
Looking for savings options that pay more than 1/10th of 1%?
Check out Jean Chatzky’s advice on where to find the best savings options today, “How to grow your savings and reach your short term goals faster,” at: https://www.nbcnews.com/better/business/how-grow-your-savings-reach-your-short-term-goals-ncna857871 “Although the average savings accounts are (as we noted) paying peanuts, the best are paying almost 20 times that much. You just have to search for them…