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For the Love of Everything, Please Keep 3-6 Months Worth of Money for an Emergency Fund (If You Can) (beehaw.org)

submitted 1 year ago by MangoKangaroo@beehaw.org to c/chat@beehaw.org

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I left my job about two months ago, and I applied for unemployment immediately. I got a new job today, but I STILL haven't gotten my unemployment decision. Additionally, my food stamp application was delayed due to personal circumstances. In short, had I not had money saved for an emergency, I would have been mega-screwed.

I know some people are not in a position where they have the luxury of storing away significant amounts of cash but, if you are, I beg of you to do so if you aren't already. I can't imagine what position I'd be in right now if not for my budgeting.

Thanks for coming to my TED Talk.

PS. I posted this here instead of in c/finance because the sidebar there specifies that it's supposed to be for finance-related news.

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[–] StringTheory@beehaw.org 21 points 1 year ago (1 children)

If you run into a financial ditch and don’t have emergency funds, contact the electric, water, medical, phone, credit card, etc. billing departments right away. Don’t wait until after you’ve already missed a payment or two! Jump right to it and set up payment plans. I helped a friend through a financial crash and was impressed how much leeway billing departments will give you if you reach out before you miss a payment.

[–] SenorBolsa@beehaw.org 3 points 1 year ago

They want to get paid and it's much easier to get paid from someone willing to work out a deal.