Penny Pinchin' Mom

DECEMBER 17, 2023

Say for example, if I put $500 away this month but still had $9,000 in debt, I would immediately think, I potentially only owe $8,500 but have $0 in savings. If there is such a clause, you should compare the amount payable to what you are about to save from interest to determine if paying off the debt is an overall gain or loss.

Pay Off Debt 52

Pay Off Debt Debt Emergency Fund Financial Goals 52

Prairie Eco-Thrifter

JANUARY 30, 2013

This emergency might be one related to a natural disaster, or it might be a financial emergency, such as a job loss. For example, if my family were to experience a sudden drop in income, we have enough home food storage to help us along for a few months. You never know when an emergency will arise.

Emergency Fund 211

Emergency Fund Job Loss Transportation Staying Warm 211

Family Balance Sheet

SEPTEMBER 9, 2014

For example, it took us about 3 years to pay off a combined $17,000 in credit card debt, but later we managed to pay off twice as much in 3 years on about the same income. We also went through multiple job losses, surgeries, huge car repairs, etc. Building an emergency fund also helps enormously. Get creative.

Debt 236

Debt Debt Free Pay Off Debt Financial Goals 236