Quote:
Originally Posted by David
Build an emergency cash fund as quickly as possible. I can't stress the importance of that enough. Layoffs can hit any sector, any department.
It's also important to create a household budget. Everyone hems & haws about budgeting, but that's the only surefire way of knowing what you spend every month. Write down EVERY expenditure during the month, add it up, & compare it with the income from the same month. What you spend vs. what you earn is as plain as day, & many people find it a real eye-opener.
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Oh believe me, we have a nest egg. But I mean, it wouldn't mean a hill of beans if things took a real dive in this country. If that happens, I think we'll just the "hell with it" and be on a plane to New Zealand to seek the good life there (and I dont mean materially). We're pretty frugal...but not in the George Constanza sense...we pay our bills FIRST and then set aside a little amount for savings. Then we allot ourselves "X" amount for the week and try to stick to that. I try to spend no more than $100 a week (gas, groceries, etc)