Dr Oz, Saving For Vacation, Emergencies,How To Avoid Budget Busters

Dr. Oz Tips On How To Save For A Vacation, Plan For Emergencies, and How To Avoid Budget Busters – With Lynette Khalfani-Cox

Dr. Oz invited “The Money Coach” (Lynette Khalfani on to the show to talk about financial stresses in your life that can lead to Money Anxiety Disorder and how financial worries can be harmful towards your health.  During this particular segment on the show Lynette shares financial tips with Dr. Oz and the audience to help improve the health of your finances while still allowing you to save money for vacations.  She also talks about how to avoid budget busters and how to plan for inevitable emergencies that may lie in the future.

How To Save For A Family Vacation

A family vacation should be something that you look forward to with excitement rather than anxiety from the financial burdens that they may bring..  Lynette said that you should save one to two percent of your income each month and set aside into a different fund.. When it’s time for your family vacation the money will be there and you won’t feel burdened by the monetary expense!  Just making small 1 to 2 percent financial sacrifices each month will pay off huge when you go on a family vacation that you will always remember and cherish!

How To Plan For Emergencies

According to Lynette Khalfani-Cox, prevention is imperative in planning for emergencies.. There will undoubtedly be financial emergencies that lie ahead so it’s a good idea to limit them by taking preventive measures.  She recommends performing regular car maintenance like getting your oil changed regularly and keeping an eye on the air pressure in your tires.  A small expense today can save you a lot of money down the road.

How To Avoid Budget Busters

Expenses that you haven’t planned for will undoubtedly affect your budget from time to time.  Lynette Khalfani-Cox shared some tips to limit the amount of damage these budget busters will inflict.  LIFE happens and sometimes unexpected expenses will occur..  She made an acronym for L.I.F.E to give some tips on how to reduce the budget busters in your life!

    • L – Listed items that you have written down in your family budget that is under-calculated (like electric bills for example)
    • I – Impulse buys
    • F – Forgotten bills or expenses – One example would be magazine subscriptions that you have forgotten about.
    • E – Emergencies – Car breaking down, flat tires, or maybe an appliance breaking down

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