WHAT IS A CRISIS BUDGET??!?

Описание: Hello Everyone,
Welcome to my channel, this is my first every video so I appreciate you stopping by.

This is my take on crisis budgeting; Budgeting while in a (financial) crisis.

How to Create a Crisis Budget…. During a Crisis!

Hello Everyone, My name is Nathan and welcome to the channel
Today we are going to be talking about some Budgeting 101 Tips
In Particular The Crisis Budget
Before we get into to that lets lay the baseline of what a regular budget is:
A Typical household Budget is a financial plan that tracks the income and expenses of your day to day life. Normal practice is to have a monthly budget as most expenses are paid on a monthly basis.

What exactly is a Crisis Budget??!?
A Crisis Budget is a more extreme Budget than your typical Household Budget. It helps you identify the essentials needed to survive the situation they are in. Normally a Crisis Budget is put into action when ones current financial situation drastically changes. Ie: A state of Emergency that closes down schools and businesses.

So now that we have a brief Idea on what a crisis budget is, Lets talk about the current situation we are in and some others that could classify as a crisis. In the early stages we were all told to make sure we had 1-2 weeks worth of essentials. This leads us to a “Crisis Budget”

As every Doomsday prepper will tell you, invest heavily in Toilet Paper and more Toilet Paper….

All joking aside Household items are needed but this is an overall outlook on your budget.

Mortgage
Insurance
Utilities (Internet)
Car
Grocery Bill

Things you can cut out:
All Entertainment (Cable, Dining out, Movies, Games)
All subscriptions
Hair and Cosmetic stuff
Expensive Cell Phone plan - can it be downgraded
Expensive Internet package - can it be downgraded
Name Brand items**

The idea of a Crisis Budget is to survive on significantly less Income while still being able to pay your living expenses.