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Thursday, October 3, 2013

Can You Afford to Go Without a Paycheck

The picture of the woman in this CNNMoney article is heartbreaking.  No doubt she's an honest, hard working woman.  Her misfortune, however, doesn't have to be in vain.  As we mentioned in our Cash & Consciousness article yesterday, we all need to have an emergency savings account.  Experts recommend this cash account should be able to cover three to twelve months worth of living expenses.  For most, it's a long-time commitment to save this much.  Many will never meet the twelve month mark.  Regardless, doing what you can is worth it.  Set aside as much as you can each paycheck and never touch it unless you have a true emergency.  

Many of those who have been furloughed because of Congress would appreciate savings like this at this time.  The government shutdown of '95-'96 lasted a total of 28 days.  Having just one months worth of savings at that time would've helped.

We send positive thoughts to those affected by this shutdown.     

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