Family Balance Sheet
OCTOBER 18, 2019
1 – Save a starter Home Emergency Fund. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt. We have definitely dipped into this fund often, so I’m glad I strayed from his advice here. We’ve been in our home since September 2001.
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. In September 2001, we bought a 1700 square foot home with a one-car garage and ONE full bathroom. Small home = Low Expenses.
Family Balance Sheet
FEBRUARY 10, 2017
Where our mortgage enters the equation: We bought our modest home in September 2001, before home prices soared and inevitably, tanked. We bought our home in 2001. Build up our Emergency Funds to 3-6 months of expenses. At the time, we thought this 1800 sq. Pay off the student loan, using the debt snowball method.
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