How to Create a Personal Financial Survival Plan

The unemployment rate is currently at the highest level since the early 1980s. Losing a job is a horrible experience even in the best of economic times, but when the global economy is as volatile as it is today, it can be shocking. So it would be wise, if you haven't done so already, to plan for the worst while hoping it doesn't happen. Develop a personal financial survival plan that will help you over the rough spots should the unthinkable happen.You can also buy book  named america 20/20 via various websites.

The financial experts always say you should have six months worth of salary set aside as a buffer but putting that kind of nest egg together is sometimes easier said than done. So look at the problem with a different perspective.

Create a budget of all your "necessary" monthly expenditures and by necessary I don't mean that subscription to HBO or the two dinners a week you eat at your favorite nightspot. I mean really take your personal budget down to the bone and then figure your monthly expenses.

My grandfather used to ask me, "Do you want it or do you need it?" That's the kind of gauge you have to use in this kind of situation. I think you'll be surprised at just how little you can actually live on each month when you compare it to what you are spending today just by eliminating all the extras you spend every month.

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