Conversation #130 | Surviving on Savings: The Making It Last Episode

Send us a text

🎙 Welcome Back to Season 4 of The Mindfully Rich Podcast! 🎙

New Series: "From Six Figures to Scraping By Rebuilding After Financial Distress"

This season, I'm kicking things off with a brand-new series that touches on the emotional and practical aspects of going from a high income to financial hardship, using savings to survive, and finding your way back to financial stability. Each episode will give you actionable tips and real-life advice on how to rebuild after financial setbacks.

Episode 2: "Surviving on Savings: Making It Last"

In today’s episode, we continue our journey through financial recovery. Now that we've recognized the fall from financial stability, it’s time to get strategic about surviving on what’s left. Even when the income stops, life doesn't. Bills keep coming, and responsibilities don’t just disappear. So, how do you stretch your savings? Here’s what we’ll cover:

🔑 Tip 1: Prioritize Essentials

• Start by identifying your non-negotiable expenses. What are the absolute essentials you can’t do without? Knowing this will help you cut back elsewhere without sacrificing your basic needs.

🔑 Tip 2: Negotiate with Creditors/Billers & Accessing Governmental Assistance

• It might feel daunting, but now’s the time to pick up the phone and talk to your creditors. Most companies are willing to work with you, whether it's lowering payments, deferring them, or finding other ways to help.

🔑 Tip 3: Seek Temporary Income

• Explore ways to bring in short-term cash flow. Whether it’s freelancing, gig work, or selling unused items, every little bit helps during tough times.

💬 Closing Thought:

Remember, tough times don't last, but tough people do. Surviving on savings is about being innovative, strategic, and unafraid to ask for help. It’s a temporary phase on the road to recovery—stay focused and keep moving forward!

📲 Connect with Me

If you're ready to take your finances to the next level in 2024, visit my website at www.iammindfullyrich.com to schedule a complimentary consultation. Let's rise together!

📢 Follow the Podcast

Instagram: @mindfully_rich_podcast

🖤 LISTEN 🖤 SUBSCRIBE 🖤 SHARE

Support the show