Financial Moves In The Event Of A Job Loss

The economy is rolling but it might not always.   In fact, things won’t always be so great.  It’s just the cycle of economics.  I’ve been at my job for 12 years.  It’s great and I feel secure, as I’m sure do many.  Still, it never hurts to prepare in the event of a job loss.  Here are some financial considerations in the event of a job loss.  These are tailored for my family, but are applicable for many.

Unemployment Benefits / Health Care

I would expect that any state unemployment benefits that I would receive would be eaten up by health care premiums, whether it be COBRA or a privately funded insurance policy.

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When I Once Helped Somebody To Be Frugal

It’s always nice to help someone, right?  Helping people makes you feel good, and (hopefully) them as well.  Here in the finance world, helping someone to save money is always a goal.  This is a look back when I once helped somebody to be frugal.

A Simple Conversation

Where it started was a simple walk down the hall to a meeting.  On the way, the co-worker I was walking with said something that floored me.  It was simple but humbling when he told me that I inspired him to start bringing in his lunch.

We talked and I found out that he usually went out for lunch.  Making a lunch was something that he had never bothered to do.  So, when he got hungry, he went out. Or he would go to the cafeteria.  Maybe the vending machine.  In any case, he never brought in a lunch.

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9 Money Goals Everyone Should Have

Rich or poor, working or retired, blue collar or white collar.  None of those things or any other will get around the simple fact that money is important.  As such, there are certain things that everybody should do with their money.  These don’t mean that everybody should approach money the same way.  It just means that in some fashion, each of the below items should be on everyone’s list of money goals.

Have A Rewarding Career

Don’t hate your job.  It’s just not worth it. You don’t have to love every minute of the day that you’re at work.  That’s just not reasonable.

But you should enjoy what you do.  You should feel that you’re making a difference.

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How We Level Out Monthly Expenses

Bills you pay every month require budgeting and tracking.  However, some bills flucuate in costs or even frequency.  We’ve developed a system where I allocate and track these expenses.  It works because we use a spreadsheet.  But, it comes in handy because we never miss a bill. Nor do we come up short on paying recurring expenses.  Here’s how we level out monthly expenses.

Types of Expenses

First, it’s helpful to determine what the expenses are that we level out.  Some of the obvious ones include:

  • Utility Bills
  • Insurance Premiums
  • License Tab Renewals
  • Auto Club Membership Fees
  • Charitable Donations

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The One Way Our Christmas Budget Fails

We have most areas of our Christmas budget down to a science.  Saving is pretty easy.  We estimate our spending, divide by twelve, and set aside an equal amount each month.  That works out great.  Sticking to the budget works, for the most part.  But there is one area that we still can’t get right.  Tracking our spending is the one area where the Christmas budget fails.

I Can Track Just About Anything

Every year, when Christmas shopping starts, I start off filled with hope. For what, you ask?  Well, hope that I can finally get the tracking down to a science.

This should be pretty reasonable, after all, considering I have a pretty solid tracking system.  I have a spreadsheet where I track all spending.  Want to know how much we paid for electrical service in 2011? I can find that out.  Curious about what our new roof cost back in 2013?  I can track it to the penny.

But what did we spend for Christmas last year?  Well…..that all depends.

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Bigger Home Costs Are Higher Than You Think

Bigger is always better, right?  People seem to think so especially when it comes to homes.  How many of us were raised by our parents in homes that we’d now consider much too small?  What people today consider starter homes, many lived their lives in.

There can be many costs involved with a bigger home.  The most obvious one is that they cost more.  A bigger home comes with a bigger price tag.  That makes sense.

Some people say this is worth it.  They look at the 500 extra square feet.  They see that it costs them $40,000 more.  Then, if they can afford the payments, away they go!

But, there are a bunch of other costs that come in that many don’t think of.  If you think that the only cost of a bigger house is the price, think again.  Here are a few things to consider.

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