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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Prepare ahead of time and create a bare bones budget that includes only your essentials — think food, shelter, clothes, transportation and insurance — so you have a plan in the event that you experience a loss of income or need to cut expenses suddenly. An emergency fund is vital regardless of the larger economic climate.

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

Family Balance Sheet

That inspired me to be intentional with my finances and to follow Dave’s six steps. Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. In those meetings, one of the things we discuss is finances. We try to discuss finances once a week.

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Friday Links – Too Swamped Edition

Prairie Eco-Thrifter

Working to build your emergency fund? Read up on emergency fund basics at Money Smart Guides. PET Archives: How to make your own clothes. 5 New Year’s Resolutions to Improve Your Finances The new year brings us another twelve months of infinite possibilities, another chance to turn our lives around.

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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

Like many across the globe, my family’s finances are a bit unstable due to the Coronvius Pandemic. I have written often about the importance of an emergency fund. Finances after the Pandemic: We went through a rough time back in 2012/2013 and we wrote our Debt Freedom Plan as a result of it. Cash is King.

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Saving Your Pennies For A Rainy Day

Prairie Eco-Thrifter

Your needs are crucial, and include things like food, water, clothes, transportation, etc. But wait a minute, you might be thinking “Jeans are clothing.” Medical emergencies, car emergencies, or family situations may arise where you need to dip into your emergency fund. Separate Your Wants From Your Needs.

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

Family Balance Sheet

She is the co-founder of the website, Little Light on a Hill , where she writes about faith, family, and finances. Be sure to check out her website where she is offering a free finance workbook if you subscribe to her newsletter. emergency fund, so we started throwing what little extra we had straight. towards debt.

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How Angela & Jeff paid off $58,000 of Debt in 2 Years

Family Balance Sheet

This is where we cut out any extra spending, such as personal money and clothing money, as well as trying to cut our grocery budget for the month, and add the money we saved to the debt payment. When it’s time to get the girls new clothes, I’ll inventory what they have, and then create a list of what they need.

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