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Money Matters - How to Build Healthy Financial Habits and Prevent Future Debt

Motherhood Moments

By building up your skills and knowledge, you'll be better equipped to earn a higher income and navigate difficult financial situations. Emergencies do happen, so it's essential to have a savings cushion to fall back on when unexpected expenses pop up. The bottom line Building healthy financial habits doesn't have to be difficult.

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Savings Goal Calculator – NerdWallet

Savings Corner

Whether you’ve set your sights on a new car, wedding or emergency fund, chipping away at the cost little by little can help you get there. Savings goal : The amount you want to save — whether it’s for an emergency fund, short-term goal or long-term goal. Time to grow : The deadline for your savings goal.

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Easy Ways to Build Up Your Savings

Prairie Eco-Thrifter

Combined with my extra income, this $600/year (give or take $25) really helped boost my savings and therefor my emergency fund. You can then build upon those small steps. We make things far too complicated; start with these small things and watch your savings grow! Found Money.

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

Penny Pinchin' Mom

Create an Emergency Fund Let’s talk personal finances— $8,883 —that’s how much American households have in terms of emergency funds on average. The ideal scenario is that your emergency fund should look to cover at least six months of all your monthly household expenses should you suddenly lose your income.

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Build Your Home Food Storage Without Breaking the Bank

Prairie Eco-Thrifter

One of the best things you can do for the sake of your own self reliance is to build up your home food storage. Your home food storage can tide you over in the event of a financial setback, or be part of your efforts for emergency preparedness. I remember helping my mother prepare corn and peas for the freezer while growing up.

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For Better Savings: Use Sub Accounts to Differentiate Your Goals

Prairie Eco-Thrifter

It’s fun to watch your account grow, but at the same time, if you have different goals for the money, having everything in one account can be problematic, since you aren’t able to identify which money is earmarked for a specific goal. I do this with my emergency fund. Break Out Your Objectives. Money Tips'

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The Age Old Question: Should You Pay Off Debt or Save?

Penny Pinchin' Mom

Before I took up my Financial Reboot journey, I was more focused on growing my savings accounts as opposed to paying off debt first. Advantages of Saving Despite Debts Building an Emergency Fund Building an emergency savings fund is the top reason to make saving a priority over paying down debt.