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  1. Great article and full of so much good information! Thanks for mentioning me. People still seem surprised that so many teens are truly interested in personal finance, but we have seen parents and other friends lose their jobs, have seen people we know lose their homes, and talked with people who cannot get ahead because of crushing debt.

    No thanks – we don’t want that and want to be well prepared for difficult times in life.

  2. I know someone who claimed his life insurance after faking death with false documents obviously someone was helping him somewhere but when he was caught it wasn’t pretty

  3. Really great information here. It’s hard to see clearly when you feel like you have to make hard financial decisions. There was a time I was unemployed and on food stamps. I was not proud, but I took every little job from housecleaning, pet sitting, babysitting, to random gigs on Craigslist to get by. I was not too proud to do anything, because I’d rather do that than move back home. I learned a lot during that time. Things can get bad, real bad, but they also get better. Never give up hope!

  4. This morning I was hit by a car on my bike. Perhaps if I needed money I would go after that crazy lady. I like to think money wouldn’t affect how I handle the situation but that’s probably not true.

    And I too agree that kids are interested in money. Most just don’t know it yet. 😉

  5. We have scrapped for the last 2-3 years as you know due to hubby being not well and unable to work. He gets a disability pension from the government now and it helps but things are still very tight. We have set up an automatic roll over to a savings account for our emergency fund. It’s not much but over time it adds up. We have had to hit it lately to replace the rear brakes on the truck last month and this month it will pay for a plumbing issue we had last Friday. Hopefully after that we can work on building it up again.
    Before hubby started getting the disability pension we had nothing coming in and plenty going out. The Redi-line attached to the mortgage was hit as was our M/C. M/C was paid off and the Redi-line paid down when we got back payments from the government. Both our boys still live at home. The older one now gets his own disability payments due to depression and Asperger’s so he pays room and board. We borrowed from the younger boy and his room and board comes off what we owe him. He is looking for work and will pay R&B as soon as he can. Both boys help out around the house a lot.
    Our truck is an older vehicle (1998) and is paid for. We need it as most of our medical appointments are out of town so I need to drive us there.
    Our daughter is working to make ends meet right now by moving closer to her work. This will mean less wear and tear on her car and less gas needed. As the grandson is in school he will be able to go to her workplace for his before and after school program which will be easier for both of them, especially for those days when he is sick. The new apartment is also a lower rent which will help as well.

    1. I’m sure your boys have learned lots about finances over the past few years after what you’ve been going through Christine. I know they help you out whenever you need it. Like I mentioned in the post many people will resort to any way they can to get extra money when there is nothing coming in. It’s not the best route to max out credit cards and the line of credit but for some it’s all they have. At least you have a plan, budget and are paying it back. Others might not be so lucky. It’s a tough decision to make that’s for sure. Kudos to you. Thanks for sharing Christine.

      1. We were being very tight with both the redi-line and the M/C as we had no idea when anything would be coming in. The bills were paid and we bought what groceries we needed and that was that. The joys of applying for government help is it takes a long time usually for things to go through the system. We applied for the disability pension in mid June, we didn’t see anything come in from that until late Nov. Just over 5 months….actually not bad given how the government can work. We have learned a lot about how the government works or doesn’t when the s*** hits the fan and you need help….
        I have managed with my kids helping when they can and my friends, both here at CBB and off line…. As the old song says…I get by with a little help from my friends. And I have some wonderful friends……..

  6. That’s terrible that you almost got scammed by that guy saying he had locked his keys in his car. Shows that you always have to have your wits about you. I would tend to be more sympathetic thinking it was just someone who had run into some hard luck.

    We have not replaced our dog even though we would like to, but budget is a big consideration. We’ve done a lot to reduce our utility expenses but could always do more *cough* *cable* *cough*.

    1. My wife told me the other day she could do without cable so now it looks like it’s all on me lol. Yes, the guy was so obvious as he was going from person to person. He wanted bus money to get home. I told him we could call the police because they would help him out. haha.. he left and fast!

  7. I am a big lover of the cash cushion. I have had many an institution ask me to invest those funds BUT I tell them that they are Emergency funds. I don’t need Emergency funds 1-5 years down the road. In the event of a real emergency, I need access to those funds NOW! That generally stops the conversation. 🙂

    1. I agree to having that cash cushion at all costs especially for those who feel they have no where to turn or are tempted to resort to unconventional ways of making money.

  8. Good stuff here Mr. CBB! Even when people are at the end of their financial rope, they always have options. I would just encourage people not to compromise their values to make ends meet. As desperate as it may be, a blotch on your character is difficult to regain and not worth the money it may bring.

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