smart spending

5 ways to rebound from a financial disaster

Create a budget
Next
Slide 4 of 7
Previous
Create a budget

Brighter futures hinge on what we do today. One important strategy for avoiding financial disaster is to have money put aside for those proverbial rainy days; but how to save when you're still struggling? Lauren Lyons Cole, a CFP, says a financial disaster can have the positive side effect of jump-starting your budget.

"The hardest part about being on a budget is being realistic," Cole says.

When budgeting, Cole advises building in savings in order to create a financial cushion. "Saving even $50 a month in a high-yield savings account can go a long way toward keeping you on track the next time something unexpected comes up," she says.

For help, she suggests online account aggregators such as Mint.com and LearnVest.com.


Next
Slide 4 of 7
Previous

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE REFINANCE AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 3.80%  0.02 3.78%
15 year fixed 3.04%  0.04 3.00%
5/1 ARM 3.14%  0.02 3.16%
 
View Rates in your area Next
Product Rate Change Last week
30 year fixed refi 3.88%  0.03 3.85%
15 year fixed refi 3.13%  0.04 3.09%
10 year fixed refi 3.14% --0.00 3.14%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.68%  0.03 2.65%
48 month used car loan 2.76%  0.02 2.74%
60 month new car loan 3.11% --0.00 3.11%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 1.08%  0.01 1.07%
2 Year CD 1.18% --0.00 1.18%
5 Year CD 1.77%  0.01 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.87%  0.01 15.86%
Cash Back Cards 16.37% --0.00 16.37%
Low Interest Cards 11.10% --0.00 11.10%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us