How to Money Ask HTM - Mass Government Layoff Triage, If Declining Rental Income Is Still Worth It, and Generating Passive Income #958
10 snips
Mar 17, 2025 Listeners dive into pressing financial queries! Discover steps to take after a job loss due to mass layoffs. Is holding onto that rental condo wise amidst declining income? Explore investing options for generating passive income, like REITs or ETFs. The hosts share insights on the worth of the Costco Visa and weigh the pros and cons of buying versus renting a home. Finally, enjoy some light-hearted banter on personal grooming, beer ratings, and the importance of professional financial guidance.
AI Snips
Chapters
Transcript
Episode notes
Triage Finances After Layoff
- Prioritize financial solvency after a layoff, putting other goals on hold.
- Focus on stemming financial bleeding by creating and implementing a bare-bones budget.
Bare Bones Budget
- Implement a bare-bones budget, cutting non-essential expenses.
- Having a prepared bare-bones budget is crucial for navigating income loss.
Bare Bones Budget: Eye-Opening
- Creating a bare-bones budget, even if unused, reveals spending habits.
- It helps identify areas for potential savings and highlights unnecessary expenses.