Family Balance Sheet
APRIL 11, 2020
Pre-coronavirus, we didn’t think twice about shaking a stranger’s hand, using the ATM keypad, or going to the grocery store without donning a hazmat suit. I have written often about the importance of an emergency fund. My second prayer is that my family gets through this crisis financially. Cash is King.
Family Balance Sheet
OCTOBER 18, 2019
1 – Save a starter Home Emergency Fund. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt. We have definitely dipped into this fund often, so I’m glad I strayed from his advice here. We limited our dinners out. We cut our gym memberships.
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Family Balance Sheet
JANUARY 1, 2015
In 2013, The Christmas Savings Club encouraged all of us to save monthly so that we could have a cash Christmas. In 2014, the Grocery Budget Challenge encouraged us to keep our grocery spending in line and to be creative with our meal planning so that we do not over-spend. Choose Thrift First Challenge.
Family Balance Sheet
FEBRUARY 2, 2017
They took it one step at a time though, first by building up emergency funds as quickly as possible, then by paying off the credit cards and committing to no new debt. We’ve been paying off non-mortgage debts since 2013. Save for emergencies. Read: How to Build your Emergency Fund.
Prairie Eco-Thrifter
MAY 26, 2016
Although we think of the Great Recession starting in early 2009, it wasn’t until 2013 that the 5 year CD interest rate fell below 1% – and has stayed there ever since according to Bank Rates interest survey data. The FDIC shows the US national average payout for savings accounts less than $100,000 is.06%. According to US NEWS .
Family Balance Sheet
FEBRUARY 4, 2015
In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free. I wasn’t comfortable keeping only $1,000 in an emergency fund with two little ones and just one income, so we didn’t follow that part of his plan. Read more about Shannon’s debt free journey.
Family Balance Sheet
JUNE 22, 2020
By the summer of 2013, we found ourselves in a pickle–we had too much debt and not enough cash flow. As part of his baby steps, he does not advocate contributing to retirement until after you’ve paid off non-mortgage debts and saved 3-6 months of expenses in an emergency fund. Groceries. Restaurants.
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