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Vis­i­tors to my site who have taken the lat­est poll wanted to hear more about…

how to be reces­sion proof?

Our blog at Kashkats has the prac­ti­cal objec­tive of teach­ing peo­ple how to man­age their finan­cial resources — we offer every­thing from work­ing with credit repair spe­cial­ist who will work with you on the com­puter on pick­ing what items to dis­pute on your credit report, to sur­viv­ing these hard eco­nomic times and becom­ing reces­sion proof.

Have any of you in your path heard of Rich Dad Poor Dad? I am a grate fan of his prin­ci­ples. Many finan­cial advi­sors advise their clients to save 3 to 6 months of their monthly expenses in a high yield no fee inter­est sav­ings account or a money money account in case you

• Become ill and can no longer work
• Get laid off or get fired due to unfor­tu­ate circumstances
• get into a car acci­dent and need the next 1 or 2 to recover from your trau­matic car accident
• have a rel­a­tive far away who is 1 month from dying of can­cer and you have to fly over there to care give to this person
• hit a midlife cri­sis and can no longer stand your job sit­u­a­tion and quit
• can no longer stand the gos­sip­ing, back stab­bing co-workers and have to resign to main­tain and pre­serve your sanity

I would highly rec­om­mend it is a safer bet to save not just 3 months or 4 months but rather a min­i­mum 6 months of your total expenses. You really don’t want to get in the habit of get­ting per­sonal pay­day loans where you are pay­ing up to 500 per­cent inter­est of the loan. If you live in a one income fam­ily and your spouse is a stay at home hus­band or wife, you really need to put away 6 — 9 months espe­cially if you have chil­dren to support.

Econ­omy experts say the hard­est sec­tor to be hit where peo­ple will be laid off are: finan­cial ser­vices and con­struc­tion. A builder in Ari­zona filed bank­ruptcy and left many peo­ple dan­gling after hav­ing spent over hun­dreds of thou­sands of dol­lars in a closed gated community.

I would highly rec­om­mend it is a safer bet to save not just 3 months or 4 months but rather a min­i­mum 6 months of your total expenses. You really don’t want to get in the habit of get­ting per­sonal pay­day loans where you are pay­ing up to 500 per­cent inter­est of the loan. If you live in a one income fam­ily and your spouse is a stay at home hus­band or wife, you really need to put away 6 — 9 months espe­cially if you have chil­dren to support.

Econ­omy experts say the hard­est sec­tor to be hit where peo­ple will be laid off are: finan­cial ser­vices and con­struc­tion. A builder in Ari­zona filed bank­ruptcy and left many peo­ple dan­gling after hav­ing spent over hun­dreds of thou­sands of dol­lars in a closed gated community.

What if you are self employed?

Being self employed you need to stash away 1 year’s worth of liv­ing expense. A friend of mine who has just turned 40 and is self employed has about $6300.00 put away for emer­gen­cies. His name is Munro and works in the health spa mes­sage sec­tor. His monthly expenses are roughly $1600 to $1700. He real­izes actu­ally needs $20,400 put away in a money mar­ket fund. So he is 14,000 short, one way he is accel­er­at­ing his plan on putting away over $14,000 is to give up his office where he was pay­ing $1800 a month and he is work­ing out of his home.

How do you come up with cash to save for an emer­gency fund?

1) Have you heard of invest­ing auto­mat­i­cally? You can work with a mutual fund com­pany. Most mutual fund com­pa­nies have money mar­ket funds which are easy to liq­ui­date. You will want to find a mutual fund com­pany that does not charge a sales com­mis­sion, get a no load money mar­ket fund. Yes, many mutual fund com­pa­nies demand a high min­i­mum deposit, but you can get around that by mak­ing reg­u­lar monthly con­tri­bu­tions that are taken bi-weekly out of your pay­check. This way you don’t even have the temp­ta­tion of spend­ing that money because it is auto­mat­i­cally deducted from your sav­ings account the 1st and the 15th of the month. This com­pany below is a good option to try. Please click on the ban­ner below. You can open up an account with Wash­ing­ton Mutual and get a high inter­est sav­ings account