article thumbnail

For Better Savings: Use Sub Accounts to Differentiate Your Goals

Prairie Eco-Thrifter

It’s fun to watch your account grow, but at the same time, if you have different goals for the money, having everything in one account can be problematic, since you aren’t able to identify which money is earmarked for a specific goal. I do this with my emergency fund. Break Out Your Objectives. Money Tips'

Goals 208
article thumbnail

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. The earlier you start building up your nest fund, the more time you have to grow your money through compound interest.

Debt 130
Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

What Do You Tolerate to Save Money?

Prairie Eco-Thrifter

Things that can cause injury or harm, things that if left unattended will grow worse. Repair that roof leak, whether it is via putting on an entire new roof or doing a short term fix to extend the life of what you have. Good thing we have that emergency fund because this won’t be cheap to fix. Money Tips'

article thumbnail

Meet a Reader | Jennifer from Arkansas

The Frugal Girl

We also grow a large garden & lots of flowers, fruit trees & a 100-year-old grapevine. Multi-pronged answer here: historically it was hard-wired in my DNA as a necessity but also being a good steward of what we’re blessed with & being able to give/help others; having enough for emergency funds was always a high priority as well.

Arkansas 183