Penny Pinchin' Mom

DECEMBER 17, 2023

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? If you are confused about whether you should pay off debt or save, you are not alone, although everyone’s financial situation is different. Should you pay off debt or save? appeared first on Penny Pinchin' Mom.

Pay Off Debt 52

Pay Off Debt Debt Emergency Fund Financial Goals 52

Prairie Eco-Thrifter

MAY 1, 2013

Rules of thumb are often used to make various financial decisions. If you lose your job, or encounter another financial setback, 30% of your income might be too much to handle for a mortgage payment — especially if you have other debt. Rules of thumb can be useful in terms of starting points for deciding on what to do next.

Life Insurance 213

Life Insurance Insurance Debt Property Taxes 213

Prairie Eco-Thrifter

OCTOBER 7, 2014

When it comes to money, most of us could stand to up our game a bit. Lots of little changes can add up to big results, like a fatter savings account, more contributions to retirement funds , the means to do really cool stuff and just greater peace of mind. Do you pick away at your savings for things you really don’t need?

Money 113

Money Goals Budgeting Budget 113

Prairie Eco-Thrifter

SEPTEMBER 15, 2014

My spouse and I were that young, poor couple, sloughing away at our day jobs and scrimping and saving for years to build wealth. Knowing I had the financial backing to live through negative life events (divorce, job loss, catastrophe, etc) removed a level of stress from my life. Will they squander it or use it wisely?

Money 247

Money Grandchildren Thrifty Job Loss 247

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. Financial accounts numbers (memorize them and/or save them in digital form, protected by a password or encryption). I have some money in a savings account that is easy to get to, in case I need it immediately.

Emergency Fund 211

Emergency Fund Job Loss Transportation Staying Warm 211

Penny Pinchin' Mom

DECEMBER 17, 2023

Emergencies constitute things like: Job loss Medical emergencies Accidents Unplanned large purchases (necessary large purchases) Natural disaster expenses You absolutely need to have this money set aside somewhere it can be easily accessed but also not within your day-to-day reach. If not, you need to get one.

Finance Tips 52

Finance Tips Finance Emergency Fund Life Insurance 52

Prairie Eco-Thrifter

MARCH 23, 2017

I thought there would be ‘strings’ attached to the use of the money. Helping kids over a rough spot can make a parent feel useful. Sometimes parents will offer temporary funding to tide the family over in times of unusual circumstances (such as job losses or extreme medical expenses, etc).

Money 124

Money Family Parenting Kids and Family 124