article thumbnail

So You’ve Maxed Out Your Emergency Fund – Now What?

Prairie Eco-Thrifter

Personal financiers will frequently advise that you have an emergency fund of 3-6 months of expenses in your bank account at all times. I remember a few months ago when I hit my $10,000 emergency fund target. Once you’ve reached that goal and have a nice, healthy emergency fund in your bank, what do you do next?

article thumbnail

Make Money Your Hobby

Prairie Eco-Thrifter

Another word for that roadmap is a budget. Not only does the budget need to account for all of your regular life expenses but it should also include line items for your big and small goals. Once you’ve figured out how much you need total, find a way to break it down and include a monthly savings target in the budget.

Hobby 189
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Conduct an Effective Family Financial Analysis

Prairie Eco-Thrifter

Here are are five reasons why budgeting for your family is important: A thorough financial analysis helps you…. achieve financial targets. rise up during emergencies or unexpected occurrences. Create a Budget. Plan for Financial Emergencies. These constraints will help you get that food budget back under control.

Family 196
article thumbnail

Savings Calculator – NerdWallet

Savings Corner

Then try it again with a deposit amount that fits your budget. Overall, there is no one answer for how much you should have in savings , but an ideal target for an emergency fund is enough to cover three to six months’ worth of basic expenses. Savings calculator tip First, run the numbers without a monthly deposit.

article thumbnail

How Krystal and Josh paid off $80k in 4 years!

Family Balance Sheet

strict budget. emergency fund, so we started throwing what little extra we had straight. We committed to using a cash budget, and we talked daily at. and using all of our extra funds, like bonuses from work and tax returns, we were able to pay everything off in 4 years! 1 – Set a budget. towards debt.

Debt 100
article thumbnail

Yakezie Carnival October 16, 2011- Growth Edition

Prairie Eco-Thrifter

Personal Finance Whiz : What Is An Emergency Fund? One of the major components of being financially fit is to have an emergency fund. Living in Financial Excellence: Why Budgets Fail and How to Create a Successful Budget Many people attempt to do a budget and fail miserably. So what did they do?

October 200
article thumbnail

Yakezie Carnival November 13, 2011- November Edition

Prairie Eco-Thrifter

Money Talks Coaching: Finding Your Emergency Fund – I hear you saying “I know emergency funds are important, but how am I supposed to save money when I can’t even pay my bills?” Today I’m going to talk about getting those emergency funds going. Smart Family Finance: Is Your Budget Easy to Beat?

November 188