More follow-up on Post-Pink Slip Financial Planning talk: Good WSJ article “How to Tap Crisis Cash”
Continuing with my follow-up from Thursday’s “Making the Most of Your Money: Post-Pink Slip and Beyond” presentation at the Network for Work meeting…
Another hot topic during the session was, not surprisingly, where to get cash to cover living expenses that, pre-pink slip, used to be covered by wages. As discussed during the meeting, once you’ve looked in all the obvious places (severance, unemployment benefits, part-time work, emergency fund, etc.), things start to get a little tricky, what with the income taxes, penalties, exceptions, and many other factors that play in when tapping other sources. This Wall Street Journal article, How to Tap Crisis Cash, does a good job analyzing and comparing the pros and cons of the various options.
(Note: If dealing with post-pink slip money management has you feeling like you could use a good stiff drink, take a look at the most recent Pink Slip Lemonade recipe supplied by Chef Patti Anastasia: Pink Slip Lemonade Mimosa. She promises it will put a sparkle in your day!)
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