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The Bright Side of the Gloom and Doom

June 7th, 2008 at 03:59 pm

I've been reading a few blogs plus listening to the abundunt gloom and doom in the news. I've come to the conclusion that the most of us are prepared for the slowing economy or working to have stronger financial plans. SA bloggers are fortifying their emergency funds (small or big) to prepare for potential rainy days or Murphy's Law. We are all cutting back on the luxury items (cable, clothes (toys) shopping, vacations, and even Starbucks runs) to get more mileage with buying basic items (food, home expenses and gas). Everyone on SA have blogged helpful tips on combating the high prices of fuel and food. There are SA bloggers promoting free or low cost entertainment ideas that fit a family, couple or single person budget. Bloggers are suggesting ways to find grants and scholarship programs to pay for college/ graduate schools to further earning potential. I love that some are encouraging us not to fear participation in the stock market or investment plans due to wonderful low bargains that can be obtained.

Yes, gas, home costs and food are rising. We all have some sort of contingency plan to for this gloom and doom. I know that my family will be tightening our wallets and purses. I am pretty sure that my fellow bloggers will do the same. The simpler way of life by spending more time with our love ones without spending a ton of money to have fun. Let us not get sucked into the news media fury of financial gloom and doom!

Cash Cushion and Online Banking Works

May 9th, 2008 at 01:05 pm

I get paid by direct deposit bimonthly on the 7th and 22nd into my checking account. Unfortunately, my pay check didn't get deposited until today. This was caused by our company's financial institution error. This would have caused me major cash flow anxiety. I have learned from this finance blog about padding your checking account to avoid potential bank overdrafts and utilizing online banking. It works! I was able to immediately changed payment dates for my bank online payments (still ahead of their payment schedules). We had enough money just in case this lasted longer. I wasn't forced to use credit cards to pay for basic living expenses. Our CEO made emergency contingencies for those employees who had financial difficulties from this accounting error. One young lady had an bank overdraft fee of $250!

Thank you to all for the great advice about being financially prepared for Murphy's Law!