Cutting Expenses in Times of Financial Distress #185

How to Money

iHeartPodcasts

Education, Investing, Business

4.6 • 3.2K Ratings

🗓️ 8 April 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

67 million people are anticipating having trouble paying their bills due to the fallout from Coronavirus. A lot of us have seen our income drastically cut, or maybe you don’t have ANY income at the moment. It’s important to prioritize our money now and conserve our cash, because in a tough economic cycle we might have more need for it. So the time has come for many of us to tighten our belts and cut some expenses so that our finances can survive the economic hardship that many of us are facing. There are changes that need to happen, but what expenses do we need to look to in order to make a dent in our monthly or annual expenses?

During this episode we enjoyed a Mr. Blue 2019 Edition by TO ØL Beer- thanks to Jeremy in NC for donating this one to the show! And as we ramp up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!

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Transcript

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0:00.0	The thing that I most nosy about is other people's finances.
0:03.3	I just want to ask people how much money do you make and what have you figured out about money that the rest of us haven't?
0:08.8	I might allow and this is other people's pockets.
0:11.8	The show where I ask people about their money because salary transparency is important and because we can all learn something from other people's financial mistakes and money hacks.
0:20.6	Other people's pockets is a co-production of pushkin industries and little everywhere.
0:24.7	Listen to other people's pockets on the iHeartRadio app Apple Podcasts or wherever you get your podcasts.
0:30.0	Hi, I'm Frances Frye and I'm Ann Morris and we are the hosts of a new TED podcast called Fixable.
0:35.7	We've helped leaders at some of the world's most competitive companies solve all kinds of problems.
0:41.2	On our show we'll pull back the curtain and give you the type of honest,
0:44.7	unfiltered advice we usually reserve for top executives.
0:48.3	Give us a call and we'll help you solve the problems you're stuck on.
0:51.3	Listen to Fixable on the iHeartRadio app on Apple Podcasts or wherever you get your podcast.
1:01.2	Check out the your Financial Maven Podcast where we need to change the way we think about money, our understanding of it and the effects.
1:08.5	I'm Samantha Mittman-Bessnov, CPA and I have spent over 25 years in the accounting field.
1:13.7	The your Financial Maven Podcast will touch on things like saving and budgeting and really anything around money
1:19.6	to help you feel financially empowered.
1:21.9	Listen to the your Financial Maven Podcast on the iHeartRadio app Apple Podcasts or wherever you get your podcasts.
1:30.3	Welcome to How To Money. I'm Joel and I am Matt and today we're discussing cutting expenses in times of financial distress.
1:43.7	Yes, you know millions have filed for unemployment these past few weeks blowing away the unemployment records that have held since 1982.
2:03.3	And that insane over the past 37-38 years.
2:05.8	Yeah, we're in a completely different time right now.
2:07.7	And so if you're not making as much money you're probably having a hard time paying your bills.
	...

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