If we lost it all - this'd be the 1st thing we'd do...

If we lost it all - this'd be the 1st thing we'd do...<br />
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We haven't lost everything before but we've seen massive drops. I got laid off, that was a reduction of our income bar probably 60 something percent we watched our income in the business in certain phases drop by 80, 90%.<br />
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This would be one of the first practical things that we would do if you read our book, simple money, rich life in chapter six, we go through an exercise, where we walk you through creating a survival budget.<br />
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It's not a normal budget where you're trying to break things out, but it's a, "what is the absolute bare minimum that we need to survive for a temporary amount of time."<br />
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And it's really important that you have that frame in your mind of, this is for three months, six months, 12 months like there has to be an end date on it. Otherwise it gets really depressing really fast. <br />
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And the main reason isn't so that you ever have to do it, but it's more informative. cause it was very powerful for me once I discovered, we can survive.<br />
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It eliminates the ambiguity of the fear of, I don't know if I'm having enough and I don't know how it's all going to work out. Like you just get concrete and crystal clear about what is this worst case scenario-ish, that we're going to go through. If you're doing this right, it should bring relief, not panic. <br />
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#fyp #budgeting #moneymatters #seedtimemoney