Frugally and Financially Preparing for the Unexpected

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Over the last week, I’ve heard tons of questions and participated in lots of conversations about COVID-19. The topic of COVID-19 itself is pretty far outside the realm of what is covered on The Simple Dollar, as it digs deep into health care and public policy issues and The Simple Dollar sticks to personal finance and frugality issues. However, whenever there is a major societal challenge, there are financial and frugal impacts for all of us.

So, let’s discuss them.

In general, I tend to stick to the same basic principles in life through thick and thin. Rather than altering what I’m doing radically because of a crisis or a disaster, I try to live my life so that a crisis won’t upend things — or will alter things as little as possible. Thus, almost everything I describe below are things that I normally do during normal times and during moments of crisis. These principles and strategies are ones that I repeated during the financial crisis of 200… Read More

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