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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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Which Insurance Policies Should You Absolutely Have?

Prairie Eco-Thrifter

Life insurance is another type of insurance that comes with question markets. “Life insurance is more circumstantial,” Hirschkom points out. ” He also looks at other situations where life insurance might make sense. What About Self Insurance? Another option is to self insure.

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

Increasing your credit card limit is really increasing your debt, or at least your exposure to debt, so say ’No!’ Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times. Make establishing an emergency fund a priority.

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How to Prevent Three Common Disastrous Personal Financial Mistakes

Prairie Eco-Thrifter

Lack of An Emergency Fund . One of the most common disastrous finance mistakes is not having any sort of financial back-up for emergencies. Experts recommend an emergency fund of at least six month’s salary as essential, especially if you are struggling to make ends meet. Making weekly payments will save interest.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Philip from Deliver Away Debt shares his story: How I Delivered Away My Debt. mbhunter from Mighty Bargain Hunter asks Are you contributing to this debt clock? and says, “The big debt clock is over $14 trillion now, but this other one is approaching $1 trillion, and may affect you more directly.&#. How about you?