Financial Safety Nets

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Bleav + Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen!

Real Estate, Education, Investing, Self-improvement, Business, Money

4.6 • 858 Ratings

🗓️ 31 May 2020

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's episode Quint and Daniel discuss what resources and strategies are available to those who have run out of options during these difficult times.

Transcript

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0:00.0	Hey there, this is Daniel. Thanks for listening to DIY Money. Now, if you haven't already, be sure to give us a five-star review so your friends know that this is a show that they can learn from. Follow us on Instagram at DIY.money. Now, enjoy this episode.
0:21.7	Welcome back, ladies and gentlemen, you are listening to another edition of
0:26.1	DIY money.
0:28.3	DiI.
0:28.7	Okay, we can't waste any time today because we have a doozy of a question.
0:34.5	Dozy.
0:35.0	From Colin, regarding what happens when you run through your emergency fund and your backs
0:41.9	against the wall and look, with 38 million people now unemployed in the United States, that
0:46.4	is going to be a reality for many people out there.
0:49.0	So we've got some thoughts on that.
0:50.2	So without further ado, Colin, what do you got?
0:52.8	D-I-Y! Hey, Quinn. Hey, Daniel do you got? D-I.W.
0:55.2	Hey, Quinn.
0:55.8	Hey, Daniel.
0:57.1	This is Colin from New Jersey.
0:58.9	A big fan of the podcast.
1:00.6	Been binging it for a little while now.
1:05.0	So my question is something you've kind of alluded to, but I wanted to get your full thoughts.
1:11.5	What if you have your fast cash and emergency fund and pretty much any other savings completely depleted.
1:17.4	What do you suggest to be done? Dig into your 401k, go into debt, any other options they may not be aware of. That'd be great to get your opinions. Thank you so much.
1:22.0	Good question from Colin. And a lot of people are going to be facing this, I think, in this
1:25.7	environment. Unfortunately, not a lot of people have emergency funds, and I would dare say that many people who don't have them probably wish they did in this environment.
	...

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Generated transcripts are the property of Bleav + Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen! and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.