article thumbnail

How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our emergency fund. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. We reduced our spending where we could, but the money to pay any shortfall each month came from our emergency fund. It kept me up at night.

Debt 130
article thumbnail

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

Family Balance Sheet

Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. The tension would come when we didn’t have a plan and didn’t communicate about finances. I focus more on the big picture (saving for a house, vacations, emergency fund, etc.)

Debt Free 241
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Achieve Your Financial Goals (tips from the achievers)

Family Balance Sheet

Once the goals are set, they focus on one step at a time and communicating regularly. We have found after 16+ years of marriage that if we do not communicate regularly about our finances, we tend to over-spend, argue, make assumptions, and become complacent. Save for emergencies. Read: How to Build your Emergency Fund.

article thumbnail

Carnival of Personal Finance #384 – Time for a Laugh Edition

Prairie Eco-Thrifter

I am a big believer in communicating. Specifically, how important emergency fund planning was for a couple with a veterinary emergency at their home.” They aren’t concerned about the latest deal, craze or freebie. We should take a moment to refresh our perspective.

article thumbnail

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

Family Balance Sheet

emergency fund, so we started throwing what little extra we had straight. Communicating well and communicating often has made talking about. First, we will save our six-month emergency fund. Did you follow a particular debt freedom plan or book, such as Dave. Ramsey or Debt-Proof Living? towards debt.

Debt 100
article thumbnail

Yakezie Carnival October 16, 2011- Growth Edition

Prairie Eco-Thrifter

Invest it Wisely: Steve Jobs: Entrepreneur and Capitalist Extraordinaire On Wednesday, the world lost a great entrepreneur and capitalist, a man whose creativity and genius sparked an entire industry and changed the face of computing and communication forever. Personal Finance Whiz : What Is An Emergency Fund?

October 200
article thumbnail

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

Family Balance Sheet

I think communication and being on the same page really helped out. We are currently working towards fully funding our emergency fund. Luckily my husband is pretty easy going and wanted to get rid of the debt as much as I did. Who handles the day-to-day finances in your home or do you work on it equally?

Debt 100