Remove Emergency Fund Remove Finance Remove Pay Off Debt Remove Saving
article thumbnail

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

Penny Pinchin' Mom

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? So, you want to get started on debt repayment so you can focus on other financial goals? You are one emergency short of losing track of your finances. What gives?

article thumbnail

Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

An emergency fund is vital regardless of the larger economic climate. But in a recession, you’ll want to consider padding your existing savings — especially due to recent inflation that has pushed the cost of living higher. Generally, you want to aim for an emergency fund of three to six months of expenses.

Recession 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. What is considered an emergency?

article thumbnail

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

Family Balance Sheet

What inspired you to get debt free? That inspired me to be intentional with my finances and to follow Dave’s six steps. When my wife and I got married, we both made the decision that our first financial priority would be becoming debt free. What are the top 3 – 5 ways you found money to put towards debt.

Debt Free 241
article thumbnail

Create your debt freedom plan

Family Balance Sheet

There were a lot more fun and purposeful things we could have done with that money than pay the lender. After the FPU class, we looked at our debts differently. Becoming debt-free became very appealing and the idea of being able to give more, save more, and live more was the direction we wanted to go. A guiding light!

Debt 130
article thumbnail

Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Hello and welcome to the 316th Carnival of Personal Finance- Family Edition. Big Cajun Man from THE Canadian Personal Finance Site asks What is Your Financial Plan B? Control Your Cash from Control Your Cash boldly says Your Smart Car Isn’t Saving the World. It has gone on for generations. What do you think?

article thumbnail

Over 40 and Worried about Money? Start here!

Family Balance Sheet

And in adulthood, they are stashing their incomes and living hyper-frugally to save for early retirement, instead of waiting to 65 to fulfill their dreams. This leaves not much left to save for retirement. ” Recently Go Banking Rates conducted two studies on savings rates with startling results. It’s all too much.