Building Your Emergency Kit

This past year and a half have taught us the importance of preparedness, especially when it comes to having supplies on hand. Remember The Great Toilet Paper Rush of 2020? Yeah… As the world slowly begins to recover and reopen, it may be time to restock on vitals and reevaluate what an emergency kit means for your and your family.

The Necessities

Anyone versed in even the bare minimum of emergency preparedness will know that you need a minimum of 3 days supplies for each family member, pets included. This means having food, water, clothing, and medications rationed for 3 days prepped in your car. In the case of the global pandemic, 3 days was a drop in the bucket. Some experts would advise having 2 weeks of supplies set aside, others would caution that 3-6 months is the bare minimum. The same goes for your finances and savings. If you struggle to save, having supplies on hand can be easier than having cash readily available to make purchases. Stock up slowly, by adding just a few extra cans of food and a bag of meat for the freezer to your weekly shopping trip can mean the world when times get lean. For medications, you can ask your provider for an extra emergency prescription, so you won’t need to cut back on your daily meds to save up. Your provider may write for one month or for 3, depending on the type of medication and its shelf life.

Cash

If you have elderly parents or grandparents, they may have told you stories of their parents hiding money and valuables in the mattress after The Great Depression or after WW2. These habits stem from living through desperate times. This last year greatly mirrors the desperation of a hundred years ago. It would be wise of us to learn from our ancestors and begin squirrelling away money for those rainy days, so that we are not caught off-guard should the worst happen. Job loss, injury, accident, Act of God, any of those things can happen at any time. By having savings, both in cash and in the bank, you can breathe a bit easier knowing you can pull through at least for a while.

The Plan

Having a plan for emergencies is key to making it out safely. This is true for natural disasters, accidents, and financial situations! Having backups, making copies of your important information, ensuring your spouse knows the important passwords for accounts, are all part of having a plan. How involved your plan gets is up to you. If you’re the organized type, create a family emergency binder with all the important stuff in one place. If you’re techy, compile a spreadsheet and let your partner know where to locate it on your computer.

No matter your socio-economic status, having an emergency kit can be key to living comfortably when life throws you a curve ball. Start taking steps today to make sure your family can get by just a little more comfortable!

Join us next week for more great ideas and information!

Best Personal Finance Podcasts for 2021

There is no shortage of resources available to aid in personal finance fluency, but not all resources are created equally. Today we will explore the best personal finance podcasts that can help you rebuild post-pandemic.

ChooseFI-Financial Independence Podcast

Co-hosts Brad and Jonathan cover important topics from basic budgeting to pensions, mortgages, investment and so much more. Their delivery leaves you feeling empowered and able to manage your own finances and grow your wealth. Each episode is around 60 minutes, with over 300 episodes available.

Millennial Investing

Hosted by Robert Leonard, this podcast brings a conversational approach to investment education. Leonard speaks with successful entrepreneurs, business leaders and investors to help you improve your investment literacy. Episodes range from 30 minutes to over an hour, with over 150 episodes available.

DIY Money

Co-hosts Quint Tatro and Daniel Czulno offer 15-minute breakdowns of important personal finance news and information, from tax implications to merging finances with a spouse, to managing debt and vetting financial advisors. DIY Money delivers straight-forward information in a conversational manner with meaningful takeaways.

Radical Personal Finance

Joshua Sheats hosts this dynamic podcast, sharing his financial philosophies and strategies to help you gain financial independence in under 10 years.

The Side Hustle Show

If you long to escape the rat-race, this is the podcast for you! Host Nick Loper gives practical advice on how to tap into your inner entrepreneur and build that side-hustle in a way that will break you out of the standard 9-5. These 30-minute episodes are inspiring, and the conversations leave you feeling like you can do it too!

Smart Passive Income (SPI)

If you’re looking to start your side-hustle online, this podcast will help get your started. Host Pat Flynn has been in the game since 2008. He shares his own methods and strategies as well as those of his guests with interesting interviews and advice. Episodes range from 15 minutes to over an hour, with nearly 500 episodes already available online. You won’t want to miss this podcast!

Check back next week for mor great resources, information, and education!

Super Savings Summer!

Summer is here in full swing and that usually means it is time for a vacation! But this year, so many families are still recovering from the financial stresses of 2020. So, this year, we propose a challenge! Super Savings Summer 2021 can be a way to get the whole family excited for savings, or just a way to get yourself back on financial track. Read on for some great tips and ideas to help you save this summer!

Trade in that vacation for a staycation!

Turn your backyard (or the backyard of a friend or relative) into vacation oasis! Break out the kiddie pool, set up a tent and pack the cooler with all your favorite treats! Roast marshmallows around the firepit, fire up the grill and have a water balloon fight! You do not need to break the bank to have some wholesome family fun!

Clipping Coupons

This one seems like a no-brainer, but if you have never dipped into the coupon world, this summer is the perfect time to start! Get the kids in on the game so you can double or triple your clippings and savings! Check out The Krazy Coupon Lady online to get a real schooling on how to coupon for big savings!

Culinary Changes

Save big on your electricity bill by cooking outdoors or skip cooking altogether and try a raw diet this summer! Cooking heats up your home enough that your air conditioner must work overtime to keep up. By cutting out the use of your oven, you can save significantly. Also, raw diets can often help you save significantly on your grocery bill!

Cut The Cord

Challenge your family to cut out those entertainment extras that can easily cost $100/ month. Cut down on the streaming services and take advantage of the longer summer daylight hours by getting outside after dinner for a family walk, play some flag football or go for a leisurely bike ride!

Skip the theme park, hit up the national park!

Theme parks are a family favorite, but for a family of 4, it can easily cost from hundreds to thousands of dollars! Instead, plan an epic camping trip to a national park! The America the Beautiful Park Pass gives you access to all national parks, national forests, national wildlife refuges, Bureau of Land Management sites, Bureau of Reclamation sites and U.S Army Corps of Engineers sites, all for $80/ year. The pass offers unlimited entrance for the pass owner and all passengers in a single non-commercial vehicle at sites that charge a per-vehicle fee, or valid for the owner and up to three adults at sites that charge per person. Children under 15 are free. You may still have to pay campsite fees.

Come on back next week for greater budget and savings tips!