(2)

I’m Convinced You Say; Now What?

We are already in hard times and it’s going to get tougher. Start preparing as you would for a natural disaster or war. Dispassionately, make a list of priorities based on what you need—not what you want or what the neighbors have—those things you can’t do without.
You need food and shelter. Unless you live and work in a city or town you probably need a car, but maybe not. If you lost your current residence, where would you go? The answer is not “I don’t know.” The answer is I will move in with my family, with friends, live in an RV, my car, whatever. Explore what’s available in your community. Have a plan.

A lot of people have already lost jobs, more than a million, as a matter of fact. If you lose your job, how long can you stay in your current home . . . make your car payment . . . pay your credit cards? Will you be able to make COBRA payments? Start figuring out what you would do if you lost your livelihood.

If you still have savings, how much will you spend before enough is enough? The answer is not “until my savings are depleted.” It’s the same with credit cards. If you don’t have much cash, make sure you have some credit available.

Frugal is in.

mg dungan