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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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My Life Plan

Family Balance Sheet

At the time, I wasn’t sure how we were going to pay our monthly bills, so future plans like funding our retirement , our daughters’ college education, or a lavish vacation were not on my mind. Increase our emergency fund to 6 months of expenses. Contribute to our retirement funds. photo credit.

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Make Money Your Hobby

Prairie Eco-Thrifter

Not long after college, a friend of mine gave me a list of recommended books. I started counting it, tracking it, and trying to grow it. Updating spreadsheets, learning new savings and investment strategies, and watching my net worth grow over time became increasingly exciting.

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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

I have written often about the importance of an emergency fund. We have an emergency fund, but after this crisis, we will likely need to replenish it and increase the amount that we keep. I connected with some college friends via Zoom for a happy hour. Being self-employed, we need the security that it offers.

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Best Way to Spend Tax Refund

For the Mommas

Add to Your Emergency Fund. An emergency fund can never have too much money in it. If you have an emergency fund to add to, then add to it. The sooner you begin contributing to your retirement fund, the longer it has time to grow. You never know when you may need to fall back on it.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

These days, there is an ever-growing concern about the safety of our personal information when it is shared over the World Wide Web. Sean Smarty from Grow Money talks about How to Invest During College. Money Thinker from Money Thinking asks Is Going to College Still Worth It? Thanks for the honesty.

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Our Big Financial Goal for 2016

Family Balance Sheet

We have a retirement to plan , our daughters’ college to save for, and many places to visit. You can only cut so much from a budget, so to fill in our shortfall, we’ll need to also earn extra income by growing our small business and growing my blog income. Earn Additional Income. Apply any Found Money to Debt.