Use Cash & Credit Wisely: A Money Roundup

Everyone has money on his or her mind nowadays: how to spend less and save more, how to earn more, and even how to earn as you spend. There are a lot of ideas and strategies on how we can do that, and here is a collection of resources for you to get ideas on how to manage your money and to maximize it as well.

First things first, here are Seven Things You Must Do to Prepare for An Emergency. Lazy Man And Money laid out a great checklist that primes you for a catastrophe. Inspired by a huge storm a few weekends ago in San Francisco, Lazy Man And Money reflects on how California is at risk for devastating earthquakes. Thus, there is a need to ensure that measures are taken in the event of an emergency. Take note of his advice on where to stash the emergency kit. It could prove crucial in that hour of emergency.

On this note, Money Crush talks about the benefits of Keeping Two Emergency Funds. The post discusses Dave Ramsey’s Baby Steps to get out of debt by gathering $1,000 in an emergency fund. It also discusses Dave Ramsey’s advice to his readers to stash three to six months’ worth of expenses in a savings account. While you could certainly just roll the $1,000 and apply it to your bigger “living expenses” fund, Money Crush talks about why it makes more sense to keep these funds separate.

With the emergencies out of the way, it’s time to answer the question, What Should You Do With An Unexpected Windfall? This certainly doesn’t happen every day, but what if you receive a windfall one day? What if you come into an inheritance that you didn’t expect and you don’t know what to do with it? This is one article that could prepare you precisely for that moment. As they say, “If you fail to plan, you plan to fail.” And before you do the 5 Things You Shouldn’t Do With a Windfall, read both articles and prepare yourself mentally for that event. Whether or not it happens, at least you’re mentally and emotionally prepared for your next step. It would surely come in handy. Whether you get a fat separation check, receive a hefty retirement sum, or discover that your savings accounts or investments have grown considerably, at least you know what to do and what not to do with that large amount of money.

As long as we are on the topic of savings, let me ask you another what-if: What if somebody asks you, Are You Saving Too Much? How would you respond? If you happen to be one of those people who have a natural knack for squirreling money away, you may want to ask yourself if it’s possible that you could truly be saving too much. This WiseBread article explores that possibility. And some good advice to take away from this: “It is OK to spend some of our hard-earned cash on ourselves. If you’ve been responsible about your finances for the most part, don’t forget to take a break once in a while. You deserve it.” We agree.

There are instances where you can truly say that there are 5 Reasons Why You Shouldn’t Start Saving Money. This article from Cash Flow Sherpa outlines some other priorities that may supersede stashing your cash. Maybe your brother-in-law would appreciate it if you paid back the money you borrowed from him first. You can feed your EverBank account some other time.

Now that the holidays are fast approaching, it would make sense to clean up your credit and follow these 5 Financial To-Do’s For Your Credit Health. It would make sense to make sure that you can use your cards in time for the holidays. But we hope you understand that This Christmas, Happiness Is A Choice: sometimes, the best gift may well be your presence.

Here are some other great links from around the web:

• Free From Broke: An Approach to Prioritizing Your Savings
• CoDR: Carnival of Debt Reduction
• Consumerism Commentary: Carnival of Personal Finance
• PT Money: Carnival of Personal Finance