Remove Debt Remove Emergency Fund Remove Heaters Remove Repairs
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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. That emergency fund saved our business, our sanity, and our marriage.

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How to Build your Emergency Fund

Family Balance Sheet

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. You see, we learned a valuable lesson many years prior about the importance of an emergency fund. That emergency fund saved our business, our sanity, and our marriage.

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Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. The total cost for the new tires and the dryer repair was $900. Several years ago, our other vehicle needed new tires to pass inspection and our hot water heater stopped working.

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Do You Have A Plan for Replacing Your Appliances?

Family Balance Sheet

I don't want to drain the emergency fund, which could easily happen when the AC needs replaced. We certainly don't want to go into debt either. A warranty saved us a lot of money when our fairly new hot water heater unexpectedly broke last fall. 4 - Start a replacement fund. 4 - Start a replacement fund.