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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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How to Budget (and Pay) for Yearly Bills + a FREE Speadsheet

Family Balance Sheet

Our list includes: home owner’s insurance – due yearly. auto insurance – due yearly. life insurance – due yearly. Every month going forward, transfer this money into a separate savings account that is connected to your checking account. Do you have a fund like this to pay those bills? ” I get it.

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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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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

Controlling careless spending of even $5-10 a week and putting it into savings, can add up significantly over time. Many people think they have no choice in this but the reality is, most people can find small ways to cut spending so that they can put a small regular amount into savings. Make establishing an emergency fund a priority.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Control Your Cash from Control Your Cash boldly says Your Smart Car Isn’t Saving the World. Anon from Gen Y Capitalist tells Why It’s Better to Travel NOW Rather Than Save For Later. “The love of a family is life’s greatest blessing.&#. Andy from Saving to Invest discusses Happiness in Life and Work.