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I have no investment advice for you, but it's always a good idea to streamline your economy, so that you can manage with less if something happens. Make sure t
by 2000UltraDeluxe 5y ago
I have no investment advice for you, but it's always a good idea to streamline your economy, so that you can manage with less if something happens.
Make sure to have a small cash reserve so that you can manage for a while even if something devastating happens. Make sure to have a small stockpile of food at home so that you can make those money last longer. As a bonus, this will also count as basic prepping, and you'll be able to handle things like being snowed in for a week without too much problems (assuming you live where such a thing is possible).
Also cut down on non-mortage debt if possible, and make sure things like streaming subscriptions can be cancelled at a minute's notice; If you end up losing part or a lot of your income then you don't want to be stuck paying for things you don't really need (Spotify, Netflix etc).
- xupybd 5y agoThanks, we don't have any non mortgage debt. Our mortgage is relatively low compared to most. I'm not looking to invest, I just want to make sure I provide food and shelter for my wife and child. Good idea to have a plan to rapidly reduce spending. I think I'll see what I can cut now. There are things I host that can be cancelled. No more VPS to host a personal email server I hardly use.
- blfr 5y agoNot to encourage you to waste money, and there's definitely benefit in reducing clutter, but saving $4/mo on a VPS is unlikely to make a significant difference.