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How to Build your Emergency Fund

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This post was first published in 2016. 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. What is an Emergency Fund?

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Over 40 and Worried about Money? Start here!

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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.

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2019 Debt Freedom Plan Update

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2016 & 2017 Update. After years of scrimping and saving and not spending extra money on things, we have achieved the biggest financial goal we have ever set for ourselves in our 19 years of marriage. 1 – Save a starter Home Emergency Fund. 2 – Increase business emergency savings.

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Our 2018 Financial Goals

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2 – Save $10k in a savings account, specifically earmarked for medical expenses. We blew through our health savings account, and now need to save another $10k so we’re not caught off guard if another emergency were to happen. Save for a camper upgrade. The Guidelines for 2018: 1.