The best way to handle a cash crisis is to expect the unexpected. If you don’t have an emergency savings account, start building one as soon as possible.
Bayside, NY (PRWEB) November 16, 2012
Personal Finance expert Walter Edelstein, CFP® is providing simple, and easy to implement banking advice that consumers need to follow to help them get through a financial crisis. With the recent catastrophic events that have hit the Northeast, as well as other recent disasters, it is more important than ever for consumers to be financially prepared to deal with unforseen events. He has published several articles that provide consumers with easy-to-follow instructions to help them prepare for the unexpected.
Having to deal with an unexpected financial crisis can be one of the most stressful events an individual will ever face. When facing some type of cash crisis – whether it’s not being able to pay a mortgage or pay bills – it’s easy to feel overwhelmed and simply do nothing. In the northeast many folks are now facing a cash crisis due to super storm Sandy.
Fortunately, there are straightforward steps that can be taken to handle a cash crisis in the best possible way. There’s usually a solution to the problem, even if it’s not immediately apparent, and even if it’s not going to be an easy one.
According to Mr. Edelstein "The best way to handle a cash crisis is to expect the unexpected. If you don’t have an emergency savings account, start building one as soon as possible." This article provides consumers with the steps they need to take to better prepare for a cash crisis.
No one would argue that saving isn’t an important component of a healthy financial plan, but “saving” is merely a concept. Without having an idea of why saving is important, how much needs to saved, and how one intends to get there, it can be difficult to make any progress. Getting an emergency fund started is one critical reason to save $1,000.
"The best way to save is by having a goal for the amount you want to save, and a time frame for doing so. Without a goal you won’t know whether you’re saving enough, and therefore won’t be able to come up with a plan to achieve" according to Edelstein. Having an extra $1,000 in an emergency savings account in one month is a great way to get started. This article provides simple steps to get started on this path to saving money.
About Walter Edelstein's TheAdvice.com Personal Finance Site Network
TheAdvice.com Personal Finance Site Network was launched in 2009, and since then has provided consumers with hundreds of free articles and financial tips across a broad array of personal finance topics. Several of the sites in TheAdvice.com Personal Finance Site Network include:
Credit Card Advice – where consumer can learn how to establish credit, protect credit, choose the right credit card, and unlock the secrets of a credit report.
Retirement Advice – where consumers can learn how to plan and navigate the path to the future beyond work, including 401K, IRA and Roth IRA information. Read how to develop a retirement plan or a pre-retirement plan that helps achieve individual long-term goals.
Mr. Edelstein has financial experience that spans over thirty years. It includes being a Certified Financial Planner™, having a Master's Degree from Columbia University, and having served as Chief Marketing Officer for a major online bank where he honed his online marketing skills to help consumers achieve their financial goals.
TheAdvice.com proudly reaches out with this network of personal finance websites to help individuals and families discover the path to financial knowledge.