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How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. That emergency fund saved our business, our sanity, and our marriage.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

What got us through.our emergency fund. 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. How Much Do You Need in an Emergency Fund?

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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

Family Balance Sheet

We knew the principles of Financial Peace University; however, we also met with a financial planner who was also a huge Dave Ramsey fan. Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. An emergency fund with 6-8 months’ worth of expenses it.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Families are our rock, our support system, and our fans. Squirrelers from Squirrelers presents The Case for a Bigger Emergency Fund. Is the conventional advice of keeping a 3 to 6 month emergency fund still valid? This article discusses why it might be better to have a bigger emergency fund.

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Find out how Charissa and Her Husband Paid Off $7665 of Debt and Cash Flowed College

Family Balance Sheet

However, since paying off our debt, I have become a much bigger fan of the baby steps laid out by Dave Ramsey and really see the wisdom in paying off debt in that fashion. The next goals in line would be to build up a 3 month emergency fund and save enough money to replace my car.

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