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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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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

So look at the take-outs you buy, the dinners out, the expensive designer coffees, the magazines, the impulse buys of things you really didn’t need, the ‘stuff’ you buy without thinking it through. Having Multiple Credit Cards Buying with credit cards leads to spending more than you earn and we all know where that leads.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

We also went through multiple job losses, surgeries, huge car repairs, etc. Travel, buy fun stuff, give gifts, help others, work if I feel like it and not if I don’t, etc. 4. , asking for discounts every time you buy something, etc. Building an emergency fund also helps enormously. Get creative.

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