article thumbnail

So You’ve Maxed Out Your Emergency Fund – Now What?

Prairie Eco-Thrifter

Personal financiers will frequently advise that you have an emergency fund of 3-6 months of expenses in your bank account at all times. I remember a few months ago when I hit my $10,000 emergency fund target. Once you’ve reached that goal and have a nice, healthy emergency fund in your bank, what do you do next?

article thumbnail

Make Money Your Hobby

Prairie Eco-Thrifter

It can be something financially prudent like starting a retirement account or something totally frivolous like saving for a vacation. Once you’ve figured out how much you need total, find a way to break it down and include a monthly savings target in the budget. Find something to motivate you into becoming financially literate.

Hobby 189
Insiders

Sign Up for our Newsletter

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

article thumbnail

How to Conduct an Effective Family Financial Analysis

Prairie Eco-Thrifter

achieve financial targets. rise up during emergencies or unexpected occurrences. Plan for Financial Emergencies. Establishing emergency funds aids you in building up savings for unexpected expenses. Travel and Vacation. Likewise, control and schedule your vacations for when you can afford them.

Family 196
article thumbnail

How Krystal and Josh paid off $80k in 4 years!

Family Balance Sheet

emergency fund, so we started throwing what little extra we had straight. 4 – I stopped going to Target. were not about to give up a summer vacation! had a small amount already saved for a tiny vacation. First, we will save our six-month emergency fund. Ramsey or Debt-Proof Living? towards debt.

Debt 100
article thumbnail

Yakezie Carnival October 16, 2011- Growth Edition

Prairie Eco-Thrifter

Personal Finance Whiz : What Is An Emergency Fund? One of the major components of being financially fit is to have an emergency fund. The angry mob is targeting the wrong street. Here’s some tips to be wary of when trying to consolidate your debt. Why Do You Need One and How Does it Work?

October 200