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How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. If not for that fund, we would most likely have used credit cards to survive.

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How to Build your Emergency Fund

Family Balance Sheet

According to a recent survey , over half of Americans have less than $1000 in their savings and checking accounts. You see, we learned a valuable lesson many years prior about the importance of an emergency fund. We have lived through some challenging months as small business owners, but 2007 was a very tough year for us.

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Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

Both instances could have brought us down and we could have reached for a credit card, but thankfully, my husband and I are pretty adamant about having an emergency fund and I want you to become adamant about having one too. Had it not been for the money in our emergency savings, we would most likely have used credit cards to survive.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

The year 2007 held such promise for us when it started, but by the end of the year we were brought to our knees. As self-employed owners of a small business, we have lived through some tough months, but in 2007, it was a tough year. What got us through.our emergency fund. How Much Do You Need in an Emergency Fund?

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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our first storm: 2007. The year 2007 held such promise for us when it started, but by the end of the year, we were brought to our knees. As self-employed small business owners, we have lived through some tough months, but in 2007, it was a tough year. For a variety of reasons, our business slowed down in 2007.

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Over 40 and Worried about Money? Start here!

Family Balance Sheet

And in adulthood, they are stashing their incomes and living hyper-frugally to save for early retirement, instead of waiting to 65 to fulfill their dreams. This leaves not much left to save for retirement. ” Recently Go Banking Rates conducted two studies on savings rates with startling results. It’s all too much.