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Personal finance blogger reveals family financial plan during pandemic - Business Insider

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A personal finance blogger left his day job just months before the coronavirus pandemic hit — here’s a 3-step financial plan his family is following to get through the crisis

This is obviously an extremely stressful time, but Andy said his family is prepared for whatever may happen, and shared his advice with Business Insider.At the start of the pandemic, Andy told Business Insider that they had around $60,000 to $70,000 in their emergency fund.

"With the extra money we have, we're going to reinforce our emergency fund to make sure we get through this near-recession season if we lose our income," he wrote in aAndy told Business Insider that it's tempting to use some of the fund to "grab stocks on the cheap," but given the uncertainty of the pandemic and their decreased income, it was more important to keep the money as a cash cushion.Andy and Nicole are long-term investors in the stock market.

"We will only lose money when we sell. And we're not selling. We're going to continue to buy and hopefully get some deals along the way," Andy wrote. "We haven't lost any money really … just the value of our shares is lower."Andy and Nicole are fortunate enough to be able to work from home during the outbreak.

 

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