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Managing Family Finances: Tips and Strategies for a Better Financial Future

Penny Pinchin' Mom

By that, I mean you have created a weekly, monthly, and even annual budget, or you’ve taken the time to go through my Financial Reboot Course to give yourself an excellent chance to reign in your finances. It should be 6x that, and then you have your minimum emergency fund figure. That’s nowhere near enough!

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Yes Virginia, There is a Money Tree

Prairie Eco-Thrifter

You have to give it space and time (lots of time) to grow into a huge money producer. He never earned more than $46,000 per year, but he turned that into several million dollars, most of which he’s giving away. We have enough to live on from other sources and an emergency fund. You can do this. Florence Ballenger.

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Why Save Money in a Low Interest Rate Environment?

Prairie Eco-Thrifter

Having that emergency fund to keep on paying for the utilities when you lose your job, or for buying the new furnace when the old one gives out may save you from using high interest debt, such as credit cards or title or payday loans to finance your day to day needs. Saving first can help you avoid usury interest rates.

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Meet Aja. She & her husband Paid Off $110,000 in Debt

Family Balance Sheet

Include anything that you’d like to add to give the reader an idea about your personality. We realized that debt payments were eating into our income and potential to build wealth. We are almost done with our 3-6 month emergency fund and will begin maxing out our retirement accounts. Where are you from?

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Our 2018 Financial Goals

Family Balance Sheet

What We Won’t Give Up: My motto has always been “living well on less” and now it will be “living well on (even) less”. However, there are a few things that we will not give up so I will need to include them in our budget. Save a starter Home Emergency Fund. Breathe & consider investment options, such as real estate.