Penny Pinchin' Mom

DECEMBER 17, 2023

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.

Finance Tips 52

Finance Tips Finance Emergency Fund Life Insurance 52

Family Balance Sheet

MAY 6, 2020

Our emergency fund. I am totally paraphrasing the year, but 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. So we got to work!

Debt 130

Debt Emergency Fund 2007 2020 130

Prairie Eco-Thrifter

JUNE 11, 2014

One of the mistakes that we often make when saving is putting everything into one account. Chances are that you are saving for different purposes. You might be saving up for a vacation, while at the same time building up your emergency fund and creating a fund for car maintenance and repairs.

Goals 208

Goals Emergency Fund Used Vacation 208

Family Balance Sheet

APRIL 9, 2021

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. Dave Ramsey has a plan and it has worked for millions of people. We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1.

Debt 130

Debt Emergency Fund 2019 Debt Free 130

Penny Pinchin' Mom

DECEMBER 17, 2023

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? You are one emergency short of losing track of your finances. If you are confused about whether you should pay off debt or save, you are not alone, although everyone’s financial situation is different.

Pay Off Debt 52

Pay Off Debt Debt Emergency Fund Financial Goals 52

Prairie Eco-Thrifter

JULY 10, 2014

My solution to this problem is to create a spending plan that actually works for me. Money is automatically deposited into the retirement and emergency fund accounts, as well as to my son’s 529. Am I saving up for a trip later? Here’s how I do it: Identify Your Core Values and Stop Spending On Other Stuff.

Budgeting 218

Budgeting Budget Work Making 218

Family Balance Sheet

JUNE 24, 2021

Every month going forward, transfer this money into a separate savings account that is connected to your checking account. When you are ready to pay a bill, transfer what is needed from this savings into the checking to pay the bill. The first year could be tough, especially if you have never saved monthly for these bills.

Bills 130

Bills Budgeting Budget Emergency Fund 130

Prairie Eco-Thrifter

JUNE 30, 2014

My fiancé’s financial goal is to save up money for incidentals and emergencies (over and above our current fully-funded emergency funds), and then buy a really good truck and perhaps a boat with anything extra that hasn’t gone toward retirement or the emergency funds. Compromising is Key.

Financial Goals 189

Financial Goals Goals Emergency Fund Finance 189

Savings Corner

FEBRUARY 2, 2024

Use this free savings calculator to understand how your money can grow over time. By Margarette Burnette   Margarette Burnette Senior Writer | Savings accounts, money market accounts, banking Margarette Burnette is a NerdWallet authority on savings, who has been writing about bank accounts since before the Great Recession.

Calculators 52

Calculators Saving Bank Banking 52

Family Balance Sheet

NOVEMBER 5, 2014

Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place. What are your top 3 – 5 tips for saving money/pinching pennies to put towards paying off your debt. Were there arguments during the time you were working on your debt? We do it together.

Debt Free 241

Debt Free Debt Emergency Fund Finance 241

Prairie Eco-Thrifter

JANUARY 1, 2013

Lack of An Emergency Fund . One of the most common disastrous finance mistakes is not having any sort of financial back-up for emergencies. How long could you manage if you were out of work, based on your current financial situation? Make an allowance for a small amount of savings, in addition to your emergency fund.

Emergency Fund 272

Emergency Fund Credit Cards Personal Finance Finance 272

Family Balance Sheet

AUGUST 11, 2016

You work until you are 65 and then retire. 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. Work for the same company for 35+ years. This leaves not much left to save for retirement. Go to school. It is a lot.

Emergency Fund 100

Emergency Fund Money Finance Debt 100

Prairie Eco-Thrifter

JULY 16, 2014

Despite having climbed their way up the corporate ladder and proving their value in millions of revenue and/or savings for the companies they worked for, the structure of each company was changing such that my parents were no longer necessary, regardless of their past performance. Assumption #5: You’ll never have a surprise.

Emergency Fund 174

Emergency Fund Insurance Recession Unemployment 174

Prairie Eco-Thrifter

OCTOBER 26, 2014

Take on extra work. Are there any jobs you can work on the side like babysitting or freelance work from home? Can you work extra hours at your job? If you’re hard pressed to find extra work, you could always donate some plasma for a month to make extra money that way. Generate free cash.

Holiday 169

Holiday Emergency Fund Homemade Eating Out 169

Prairie Eco-Thrifter

NOVEMBER 4, 2013

It’s easy to think that you have plenty of time; to have the mindset that you’ve worked hard and so you deserve to relax and have some fun; that you’ll get organized about the future next pay check; and so the list goes on. Many employers offer some type of retirement plan so you need to make enquiries at work as to what is available.

Graduation 210

Graduation Making Emergency Fund Budgeting 210

Prairie Eco-Thrifter

JANUARY 10, 2013

I have started a new job at work which is great but also very overwhelming as I still need to keep up doing my old job until my replacement is hired and trained. Working to build your emergency fund? Confused about how much you should save and how you should go about saving it? Hi everyone.

Emergency Fund 193

Emergency Fund Debt Student Fridays 193

Motherhood Moments

MARCH 4, 2023

Save for a rainy day. 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. Save for retirement T-O-D-A-Y.

Debt 130

Debt Money Building Credit Cards 130

Family Balance Sheet

APRIL 11, 2020

Pre-coronavirus, I considered having 3 months of expenses saved in cash to be sufficient. Every night my first prayer is that this virus starts to mitigate, the curve flattens to a manageable level for our health care system, and lives are saved. I have written often about the importance of an emergency fund.

Budgeting 246

Budgeting Budget Family Debt 246

Penny Pinchin' Mom

MARCH 11, 2024

The post How to Save Money Fast – My Top 20 Tips appeared first on Penny Pinchin' Mom. “The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates a sense of order, trains forethought, and so broadens the mind.” Start Using Cash This is a wonderful way to save money.

Saving Money 52

Saving Money Money Saving Credit Cards 52

Family Balance Sheet

OCTOBER 18, 2019

After years of scrimping and saving and not spending extra money on things, we have achieved the biggest financial goal we have ever set for ourselves in our 19 years of marriage. 1 – Save a starter Home Emergency Fund. We have definitely dipped into this fund often, so I’m glad I strayed from his advice here.

Debt 100

Debt 2019 Financial Goals Emergency Fund 100

Prairie Eco-Thrifter

OCTOBER 20, 2014

We all put up with things that irritate us, sometimes due to general inertia, other times to save the cost of fixing. How much do you tolerate to save money? Shouldn’t you have a right to expect everything to always be in working order – or is that too much to ask? Why tolerate broken?

Saving Money 162

Saving Money Money Saving Emergency Fund 162

Prairie Eco-Thrifter

JULY 22, 2014

When I worked as a singer on a cruise ship, I made more money than I ever had before. Unfortunately, the work environment was unbearable, namely the constant sexual harassment from guests and officers. Rather than wasting time being overcome by anxiety, I get to work. That was as “monetarily made” as I ever had it.

Money 219

Money Unemployment Emergency Fund Couch 219

Prairie Eco-Thrifter

JULY 17, 2013

Whether you are behind in your goals to have a certain salary or position, or whether you wish you could quit your job and work more on your side hustle, you need to have an honest look in the mirror. Once you know what you need to do, it’s time to work out a plan for accomplishing the tasks on your list. Get Started.

Emergency Fund 213

Emergency Fund Goals Motivation Work 213

Prairie Eco-Thrifter

MAY 20, 2014

Instead, you want to put that money to work for you so that you can enjoy life. It’s one thing to have a couple thousand dollars in an emergency fund. I enjoy travel, and I like my money to be put to work providing me with interesting experiences that enrich my life. Invest that Money.

Money 200

Money Emergency Fund Work Advantage 200

Savings Corner

DECEMBER 24, 2023

Credit card balance transfers Transferring your debt to one credit card, known as a credit card balance transfer , could help you save money on interest. Savings or retirement accounts Savings account: You can use your savings to pay off all or a portion of your debt. But it may not be the best choice.

Debt 52

Debt Calculators Credit Cards Credit 52

Prairie Eco-Thrifter

NOVEMBER 8, 2012

My retirement account contribution, emergency fund contribution, car payments, utility bills, and mortgage are all set up so that they are paid automatically each month. Of course, this spending plan method only works in my family because our wants are fairly modest so we don’t exceed our income each month.

Emergency Fund 202

Emergency Fund Budgeting Budget Psychology 202

Saving In Akron

MARCH 9, 2011

Get home, have to take hubby to work. Had to work today so I worked at my real job until 4 when my daughter gets home. Sit down at 11:00 PM to work on this blog after all that. I have always lived below my means, and although my income is never the same from month to month, I have always saved during the good months.

Emergency Fund 100

Emergency Fund Daughter Cars Car 100

Prairie Eco-Thrifter

MAY 30, 2012

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.

Money 235

Money Emergency Fund Debt Financial Goals 235

Family Balance Sheet

JUNE 30, 2015

And while we have a lot of work ahead of us, we keep moving forward. Increase our emergency fund to 6 months of expenses. Contribute to our retirement funds. Start saving for college. And that future didn’t look bleak, in fact, it looked very bright. Our Financial Goals: Pay off our non-mortgage debt.

Financial Goals 100

Financial Goals Debt Goals Emergency Fund 100

Family Balance Sheet

SEPTEMBER 9, 2014

Your money stays yours, so you can make it work for you. Travel, buy fun stuff, give gifts, help others, work if I feel like it and not if I don’t, etc. I needed to count on myself and support my son, and that meant getting my financial life in order, starting with building an emergency fund for the first time.

Debt 236

Debt Debt Free Pay Off Debt Financial Goals 236

Family Balance Sheet

JUNE 11, 2014

Today I am proud to say that we have completed our second step : Increase business emergency savings to a specific number. Over our 14 years in business, we have had to rely on our savings a few times to help cover expenses during tough months. By summer 2013, our savings was at an uncomfortable level.

Debt 100

Debt Emergency Fund Financial Goals Motivation 100

Prairie Eco-Thrifter

MAY 27, 2012

If your budget doesn’t have a savings amount, put one in. Also include an emergency fund and contributions to a retirement account, even if just small amounts at first. Avoid using store cards; they usually have excessively high interest rates and this negates any savings you might make.

Emergency Fund 212

Emergency Fund Credit Cards Budgeting Budget 212

Family Balance Sheet

MARCH 19, 2014

Becoming debt free became appealing and the idea of being able give more, save more and live more took my breath away. Save $$$ Home Emergency Fund – Dave suggests to start at $1000, but being self-employed, ours is much higher, but it is not quite 3-6 months of expenses. But we needed a plan. Breathe & Invest.

Debt 100

Debt Money Emergency Fund Goals 100

Penny Pinchin' Mom

JANUARY 16, 2024

However, if you have been following me, you know that I am quite serious about finding ways to not only get out of debt but also how to create a budget (and stick to it) as well as how to save money without necessarily depriving your family of the quality of life they deserve. Increase your savings and investments instead.

Personal Finance 52

Personal Finance Finance Tips Finance Mom 52

Saving With Shellie

JULY 12, 2011

I get asked frequently why I write about saving money. I believe that saving money is important. It’s an idea that stretches far beyond a monthly budget or vacation fund. Saving money and living within or below your means is lifestyle change that impacts your whole life. Start an emergency fund?

Emergency Fund 67

Emergency Fund Goals Saving Saving Money 67

Prairie Eco-Thrifter

MAY 26, 2016

Helping the parents teach my grandchildren to save is an ongoing project of mine. Each year I bring them together in my Grandma Rie’s Money Camp and focus on different aspects of personal finance, with saving being a focus in each camp. Trepidation about having the grand-kids open a savings account. Six measly cents.

Money 124

Money Saving Money Lowes Grandchildren 124

Saving Cents With Sense

JANUARY 1, 2014

Do any of them include saving more? I have many ways for you to start saving, including couponing, but before you become overwhelmed with the idea, here are 10 tips that are simple, easy and will make you one savvy shopper in 2014, so you can start saving more. 10 Savvy Ways to Save in 2014. What about eating out?

2014 88

2014 Saving Bills Emergency Fund 88