Louis and Angelina (not their real names), reached out to me in April as Louis had suddenly lost his job due to COVID-19, and was now on CERB. As he was the lone income earner, this was a HUGE deal for them. Angelina is a stay at home mom with two small kids, and the $2k from CERB is less than half of their usual takehome pay. In this video, I go through their financial situation and give them some real actionable steps they could use to move forward in this storm, and where they can move in the future as Louis heads back to work.
emergency fund
“How Big Of An Emergency Fund Should I Have?”
There are many schools of thought around this question, but to me, it BIG TIME depends on where you’re at financially with your DEBT load, and then, if your out of debt, lots of personal and professional factors.