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How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. If not for that fund, we would most likely have used credit cards to survive.

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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.

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

Motherhood Moments

Instead, you may want to check out thrift stores or buy classic, high-quality items that will last longer. Automating your savings towards an emergency fund makes this process easier and less painful. on your credit card. Make smart choices with credit. And this can help you steer clear of debt.

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

Penny Pinchin' Mom

This is why you should pay off your high-interest debts like credit cards 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.

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Are You Heading for Financial Disaster?

Prairie Eco-Thrifter

See if you can identify with any of these statements: I spend more than I earn I don’t have a household budget I use credit cards all the time to buy everyday essentials like food, gas, transport. Do you buy things you didn’t know you wanted until you saw them in the store? What about signs?

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6 Tricks to Save More Money in 2015

Prairie Eco-Thrifter

Earmark this money for an emergency fund, a new car fund, a vacation fund, whatever you would like. Try to cash it in at the bank rather than at a coin machine in the grocery store so you don’t have to pay a commission. If you use credit cards, another great source of free money is credit card rewards.

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How to Save Money Fast – My Top 20 Tips

Penny Pinchin' Mom

Whether you are looking to save extra money for your emergency fund and potential unexpected expense, a new kitchen, or your kids’ college tuition—you name it—you will require self-discipline and a plan to reach any financial goal. Buy in Bulk Apart from using coupons, I advocate buying in bulk when at the grocery store.