MakingCentz

Snarky Thoughts on Personal Finance From a Dad of Two

Layoffs, Emergency Funds and Cars

I will not be purchasing this car in the near future.

I will not be purchasing this car in the near future.

We hear a lot of financial advisors talk about the importance of having an emergency fund. There is some disagreement about how large it needs to be, but most suggest stashing away three months of expenses, at minimum, for a rainy day.

My rainy day came Wednesday, when my full-time employer announced widespread layoffs. Suddenly, I went from having a steady paycheck to facing an uncertain professional future. Continue reading

The 4 Dumbest Money-Related Things I’ve Ever Heard

People aren’t dumb. But they do dumb things because they have flawed ways of thinking.

WTF?

WTF?

I get frustrated when I see people make horrible financial decisions. But I get even more annoyed when they rationalize those bad decisions with idiotic thinking.

If you’re like me, you’ve received a lot of financial advice over your lifetime. If you’re lucky, most of it is good and has helped you achieve your financial goals. But you’ve probably had some bad advice thrown your way as well.

Here are four of some of the most baffling things I’ve heard when discussing personal finance with friends and colleagues.  Continue reading