article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

We have lived through some challenging months as small business owners, but 2007 was a very tough year for us. That emergency fund saved our business, our sanity, and our marriage. By the end of 2007, our business picked up again–thankfully–but not before we practically wiped out our savings.

article thumbnail

Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. As self-employed owners of a small business, we have lived through some challenging months, but the year 2007 was especially tough for us. Our business became difficult.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

We have lived through some challenging months as small business owners, but 2007 was a very tough year for us. That emergency fund saved our business, our sanity, and our marriage. Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account. A Very Tough Year.

article thumbnail

Over 40 and Worried about Money? Start here!

Family Balance Sheet

.” Recently Go Banking Rates conducted two studies on savings rates with startling results. Almost 70% of Generation X have less than $1000 in personal savings account. *. of Generation X report a retirement savings account balance of $0.**. of Gen X report they have saves less than $10,000 for retirement.**.

article thumbnail

Meet a Reader | Mary from Reflections Around the Campfire

The Frugal Girl

Now I wish those dollars had gone into our savings accounts. In 2007, when the kids were 8 and 13, we recreated that trip – with a travel trailer and bunks instead of a miniscule tent. I track expenses, monitor our budget and handle all of our investments. Alan doesn’t share that regret. Spreadsheets are my friends.