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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

Prepare ahead of time and create a bare bones budget that includes only your essentials — think food, shelter, clothes, transportation and insurance — so you have a plan in the event that you experience a loss of income or need to cut expenses suddenly. An emergency fund is vital regardless of the larger economic climate.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Tom Drake from Canadian Finance Blog clarifies our Understanding of Term Life Insurance. 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? A Reverse mortgages has both advantages & disadvantages.&#.

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How We Paid off Six Figures of Debt

Family Balance Sheet

But at the beginning of our journey to pay off the debt, I was listening to Dave Ramsey on the radio. As part of his baby steps, he does not advocate contributing to retirement until after you’ve paid off non-mortgage debts and saved 3-6 months of expenses in an emergency fund. We said NO a lot.

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How to Start a Budget (and be successful at it!)

Family Balance Sheet

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. Necessary expenses could be: – Home: Mortgage/rent, utilities, insurance, taxes, necessary repairs. – Transportation: loan payments, fuel, insurance, service/repairs, necessary parking/tolls.

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