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. It kept me up at night.
Family Balance Sheet
JUNE 22, 2020
Aside from the mortgage, we also added equipment and renovation loans with the purchase, and we had a student loan. 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. What could possibly go wrong?
Family Balance Sheet
JUNE 8, 2018
– other necessities: insurance, medical expenses, tithe/giving, savings, loan payments (credit cards, student, personal), Non-necessities could be: – Clothing, smart phone plan, recreation, gifts, beauty/personal, entertainment, anything that you might spend money on, but it’s not necessary for your survival.
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