COVID-19 has brought to light that most people don't have an emergency fund. What we discuss in this episode is first off, exactly what an emergency fund is, how to get started, and when to get started.Planning for emergencies is hard. Do you wait until debt is paid off? Do you put a little aside each month despite debts? What constitutes an emergency?All of these questions are important and are different for everyone. The important part is figuring it out for you!
Times like this make us react in irrational ways when it comes to our finances--hence why all of the toilet paper has disappeared from the shelves! In this episode, we discuss why we do that and what are some ways to alleviate financial stress during this time.
We've all experienced that moment when you have poured time, money, and energy into something, but aren't feeling the return; and yet, we cannot walk away. This leads to many debt and credit issues down the road because we feel stopping equals giving up.