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Create your debt freedom plan

Family Balance Sheet

We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1. The point of the starter emergency fund is to get you through until you pay off your non-mortgage debts, at which point, you build a more extensive fund. Increase business emergency savings.

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

Motherhood Moments

Emergencies do happen, so it's essential to have a savings cushion to fall back on when unexpected expenses pop up. Automating your savings towards an emergency fund makes this process easier and less painful. Save for a rainy day. Just remember, the higher the potential ROI, the greater the risk involved.

Debt 130
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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 need to revisit that plan and make adjustments based on what we’re dealing with now. We have an emergency fund, but after this crisis, we will likely need to replenish it and increase the amount that we keep. Cash is King.

Budgeting 246
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Is Now The Time to Buy a Home?

Prairie Eco-Thrifter

If you don’t have an emergency fund in order to make at least the approximate payment of your anticipated mortgage and expenses, you are not ready to make the leap into home ownership. Just think – when the pipe breaks, you just call your landlord and you don’t have to deal with (or pay for it) yourself.

Home 186
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Are You Prepared For An Emergency?

Prairie Eco-Thrifter

Physical Emergency Preparedness. Getting ready for an emergency on the physical level is a good first start. It’s a good idea to gather your emergency supplies so that you are physically able to deal with an emergency when it strikes. You can augment with other emergency sources as well.

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Intentional Spending – Being Ready For An Emergency

For the Mommas

As a part of my Back to Basics series , I am writing a post on how to start an emergency fund. Amy’s emergency fund saved her — when her heater went out on New Years Eve. Without an emergency fund, this could have been an major financial blow. Don't miss the newest deals.

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Our Debt Freedom Plan | Marriage & Money

Family Balance Sheet

Save $$$ Home Emergency Fund – Dave suggests to start at $1000, but being self-employed, ours is much higher, but it is not quite 3-6 months of expenses. The purpose is to cover any sudden expenses so that we don’t go into more debt when dealing with them. | DONE. **Exact numbers have been omitted at this time.

Debt 100