143: Are You Prepared for a Financial Dry Spell?

Faith and Finances

Government shut-downs, layoffs, and market crash; oh my! Could you survive, financially, if you missed on paycheck? Two paychecks?

Could you meet your required financial obligations for one month? Two months?

In This Episode, We Look At:

Fewer than 60% of American households say they are putting away money for an emergency.

It is estimated that 10% of households fell behind in their bills last year.

Do a drill—a financial drill. Kids participate in fire and earthquake drills at school. Why not run through a money drill.

Assume that you will not receive a Paycheck next week. Do you have the liquid assets to cover your most basic needs in life, keeping a roof over your head, buying groceries, keeping the lights on, and not letting your Health Insurance coverage lapse?

• Determine your "Minimum Survival" number.
• Be proactive rather reactive.
• Jump start your survival savings today.

Sell some stuff. Take on a side job (Drive for Uber or Lyft, perhaps? Just an idea to get you thinking)

Resources and Links:

40% of Americans only one missed paycheck away from poverty

Improve Your Faith and Finances:

Avoid assumptions (see James 4:13-15) and get serious about saving.

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