Member-only story
What Should An Emergency Budget Include? [Adjusting Finances in a Time of Crisis]
What’s your plan if you lose your job? What will you do if your work hours get reduced? What happens if you lose your child care?
These aren’t easy (or fun) questions to answer. Yet everyone should think about what they would do in a financial emergency.
Whatever the situation, you would need to take immediate action to deal with your money.
We’ll help you devise a plan. Below we cover how you can create an emergency budget and adjust your finances in a time of crisis.
What is an Emergency Budget?
An emergency budget helps you cut all unnecessary expenses to make your money stretch as long as possible. Think survival. It’s a back to the basics plan designed to help you navigate a financial crisis.
Even if you have never had a budget before, when you’re in a financial crisis, an emergency budget will help you. And even if you’re not currently facing an emergency, things can change quickly.
Having an emergency budget ready is a sensible thing to do.
Related Reading:
