Family Balance Sheet

MAY 6, 2020

Our emergency fund. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. We reduced our spending where we could, but the money to pay any shortfall each month came from our emergency fund.

Debt 130

Debt Emergency Fund 2007 2020 130

Family Balance Sheet

APRIL 11, 2020

Pre-coronavirus, I considered having 3 months of expenses saved in cash to be sufficient. Every night my first prayer is that this virus starts to mitigate, the curve flattens to a manageable level for our health care system, and lives are saved. I have written often about the importance of an emergency fund.

Budgeting 246

Budgeting Budget Family Debt 246

Family Balance Sheet

JUNE 22, 2020

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. We applied some of this extra cash towards debt and the balance was saved for medical expenses. Health Sharing Ministry.

Debt 130

Debt Health Insurance Insurance Budgeting 130

Family Balance Sheet

JUNE 8, 2018

Necessary expenses could be: – Home: Mortgage/rent, utilities, insurance, taxes, necessary repairs. – Food: groceries, meals out, school lunches. You can’t cut back on your rent or mortgage payment, but you can find ways to save money on your groceries. The grocery category is the easiest one to reduce.

Budgeting 133

Budgeting Budget Financial Goals Goals 133