Personal Finance/Budget Coach

Monfreid

Registered User
Messages
28
Hello,

A few years ago, I had no emergency fund, a personal loan, a credit card and no budget but never realised that I had a problem until the time I built my house. I had to pay my rent and the mortgage while the house was being built, towards the end, the mortgage and the rent were alsmost equal and that's when I realized that I needed to do something about my personal fincances.

To cut a long story short, I did listen to a lot of personal finance podcasts, one of them being the Dave Ramsey show.

A few years later, I don't have a credit card or personal loan anymore, I have a budget, savings, an emergency fund and sinkings funds for stuff like holidays, Christmas, ...

Now, I really hate debts and want to get rid of my mortgage as quick as possible, the goal is to pay off my house in 15 years instead of the 25 years of the initial mortgage terms.

Some people around me, friends and family, were slagging me sometimes about personal finance/budget/... but those same people have asked me for advice later on regarding budgetting, ... I never went into details with them (they never shared their income, expenses...) , just the overall idea of how I do my budget but I really enjoyed sharing this with them so I would like to know if I could do this as a side hustle, do I need to get some official training on this, how would you find clients?

Any thoughts on that or previous experience maybe ?

Thank you
 

Saavy99

Frequent Poster
Messages
390
Three months, regardless of whether the person is a teacher or a carpenter?
The three months net income is for all workers regardless of profession or trade. It's really there to cover expenses should a person lose their job and they will have enough funds to see them through until they get new job .
 

lledlledlled

Frequent Poster
Messages
307
The three months net income is for all workers regardless of profession or trade. It's really there to cover expenses should a person lose their job and they will have enough funds to see them through until they get new job .
But over the course of their career (or during a global pandemic for example) would the carpenter (construction industry) not be more likely to lose their job than a teacher (public sector, would need to murder a student to get sacked)?

I'd say the carpenter needs more months salary set aside than the teacher. And in my experience, they usually have less
 

Pinoy adventure

Registered User
Messages
21
Would 3 months be enough in the current climate ?
I guess the 3 months would be a min and maybe 6months would be a more comfortable cushion.
 
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