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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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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

What got us through.our emergency fund. 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. How Much Do You Need in an Emergency Fund?

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

Family Balance Sheet

We knew the principles of Financial Peace University; however, we also met with a financial planner who was also a huge Dave Ramsey fan. Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. An emergency fund with 6-8 months’ worth of expenses it.

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Petty Cash

Family Balance Sheet

It is not an emergency fund or our monthly cash allowance and there isn't a lot of cash in the envelope. Do you have a petty cash fund? We have an envelope, in an undisclosed location, where we keep cash. Thanks for reading.

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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. If you would like to receive FREE updates of FBS, there are four ways to do so: through your RSS Feed have updates sent to your email , become a fan and 'like' FBS on Facebook become a Twitter follower. Let us know in the comments.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Families are our rock, our support system, and our fans. Squirrelers from Squirrelers presents The Case for a Bigger Emergency Fund. Is the conventional advice of keeping a 3 to 6 month emergency fund still valid? This article discusses why it might be better to have a bigger emergency fund.

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2012 Financial Goals

Family Balance Sheet

Increase Family Emergency Fund to Six Months Salary. become a fan and 'like' FBS on Facebook. Currently, we have about 3 months salary saved, but we are self-employed and should have a six month security net. This might take us 2 years to achieve. Let us know in the comments. Thanks for reading. become a Twitter follower.