Friday February 23, 2015: Updated 5/8/2017



Financial Preparedness
 

  1. Build up a Financial savings -- Set aside a little money from each paycheck and don’t draw from it unless it’s an emergency, (layoff, un-budgeted car/home repair).

  2. Budget for regular bills and foreseen expenses so you don’t have to dip into your emergency funds or worse, go into debt.

  3. Avoid credit card debt -- You can use credit cards but NEVER carry a balance beyond the grace period.

  4. 401k or Retirements accounts -- Invest in mutual funds, (stocks, bonds). Make long-term compound interest your servant. Make your money work for you. Let it be a tax shelter for you. 

  5. Drive an Electric Car -- They have a smaller operating cost than gas/diesel cars. They are affordable, safer and don't contribute to air pollution. (as of 2017 you can buy a used 2013 Nissan Leaf for $7000). They need almost no regular maintenance, almost never break down and in a fuel shortage, you will still be able to function normally and drive everywhere you normally need to go. Better yet, also get solar panels so you can produce your own electricity to charge your car.