Motherhood Moments

JANUARY 18, 2023

An emergency fund is vital regardless of the larger economic climate. Assess your emergency savings today and explore ways to bolster them through possible side hustles or gig work. Generally, you want to aim for an emergency fund of three to six months of expenses. Prepare for the unexpected.

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Recession Finance Emergency Fund Debt 100

Family Balance Sheet

APRIL 9, 2021

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. But $1000 was not nearly enough money to cover sudden emergencies in both our home and business. He calls it his 7 Baby Steps.

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Debt Emergency Fund 2019 Debt Free 130

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!

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Debt Emergency Fund 2007 2020 130

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. Here’s how I do it: Identify Your Core Values and Stop Spending On Other Stuff. What matters most to you? must be paid.

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Budgeting Budget Work Making 218

Prairie Eco-Thrifter

JUNE 11, 2014

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. I do this with my emergency fund. But, with the right approach, this can work well. It worked for me when my basement flooded. Break Out Your Objectives.

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Goals Emergency Fund Used Vacation 208

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.

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Financial Goals Goals Emergency Fund Finance 189

Family Balance Sheet

JUNE 24, 2021

This system works very well for us, but we have been doing it for several years. For ideas to find those funds, read: 25 Ways to Find Money for Your Emergency Fund. Do you have a fund like this to pay those bills? How to Build your Emergency Fund. Don’t let that deter you. It will take some time.

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Bills Budgeting Budget Emergency Fund 130

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. Were there arguments during the time you were working on your debt? If you can talk about your finances every week and have a plan that you are working on together, there shouldn’t be a lot of tension.

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Debt Free Debt Emergency Fund Finance 241

Penny Pinchin' Mom

DECEMBER 17, 2023

Advantages of Saving Despite Debts Building an Emergency Fund Building an emergency savings fund is the top reason to make saving a priority over paying down debt. Even a small cushion of emergency savings can stop you from sinking further into debt when you are hit with an unexpected expense.

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Pay Off Debt Debt Emergency Fund Financial Goals 52

Family Balance Sheet

AUGUST 11, 2016

You work until you are 65 and then retire. Work for the same company for 35+ years. Another friend chimed in, “we’ll never stop working, retirement isn’t possible.” Start Saving for your Emergency Fund TODAY! That emergency fund saved our business, our sanity, and our marriage.

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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.

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Emergency Fund Insurance Recession Unemployment 174

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.

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Emergency Fund Credit Cards Personal Finance Finance 272

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.

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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? Read up on emergency fund basics at Money Smart Guides. Hi everyone. This week has been crazy for me.

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Emergency Fund Debt Student Fridays 193

Family Balance Sheet

APRIL 11, 2020

I have written often about the importance of an emergency fund. We have an emergency fund, but after this crisis, we will likely need to replenish it and increase the amount that we keep. Are you working from home? Are you working in the front lines of this crisis? Cash is King. More family time!

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Budgeting Budget Family Debt 246

Motherhood Moments

MARCH 4, 2023

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 a rainy day. The bottom line Building healthy financial habits doesn't have to be difficult.

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Debt Money Building Credit Cards 130

Family Balance Sheet

OCTOBER 18, 2019

1 – Save a starter Home Emergency Fund. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt. We have definitely dipped into this fund often, so I’m glad I strayed from his advice here. It was not. We said NO a lot! We held back on a lot!

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Debt 2019 Financial Goals Emergency Fund 100

Family Balance Sheet

OCTOBER 18, 2014

Please catch up on all of the assignments this weekend, because you will need all of that work to help you create your monthly spending plan. Day 3: I took 4 days off due to an unexpected family emergency. Day 10: Create a Personal Escrow Fund. Day 13: Create an Emergency Fund. Day 14: Create a Gift Giving Fund.

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Finance Organic Organization Emergency Fund 124

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.

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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.

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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.

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Money Emergency Fund Work Advantage 200

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.

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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. This all goes back to having an emergency fund and paying yourself first. I barely worked in those 2 years.

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Emergency Fund Daughter Cars Car 100

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. The plan allowed us to think beyond the financial struggles we were dealing with at the time and we could envision what our future might look like. Looking forward.

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Financial Goals Debt Goals Emergency Fund 100

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.

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Holiday Emergency Fund Homemade Eating Out 169

Prairie Eco-Thrifter

MAY 30, 2012

Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times. Make establishing an emergency fund a priority. Ignoring Your Debt Debt is not just going to go away, you must handle it and work to whittle it away.

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Money Emergency Fund Debt Financial Goals 235

Savings Corner

DECEMBER 24, 2023

If you borrow from savings, you may be left without an emergency fund to cover unexpected expenses in the future. With a debt management plan, you’ll work with a nonprofit credit counseling agency to negotiate with creditors and draft a plan to pay off your debts. But it may not be the best choice.

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Debt Calculators Credit Cards Credit 52

Prairie Eco-Thrifter

NOVEMBER 17, 2018

Ultimately, if you were the person responsible for paying the bills in your home, and you didn’t have much of an emergency fund in place, there’s a chance that you’ll need to seek out the assistance of a personal loan between you and your partner until you get back on your feet.

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Hunts Emergency Fund Re-use At&T 138

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.

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Debt Debt Free Pay Off Debt Financial Goals 236

Prairie Eco-Thrifter

MAY 27, 2012

Also include an emergency fund and contributions to a retirement account, even if just small amounts at first. I also find scheduling payments either online or with a teller at your bank works great at avoiding late fees and added interest. I do this with all of my bills and it works great.

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Emergency Fund Credit Cards Budgeting Budget 212

Family Balance Sheet

JUNE 11, 2014

Our current savings is not at a true emergency fund level of 3-6 months, but further down our plan, we will save up to that level. What financial goals are you working towards? By summer 2013, our savings was at an uncomfortable level. Our current amount is enough where I sleep much more soundly at night.

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Debt Emergency Fund Financial Goals Motivation 100

Family Balance Sheet

MARCH 19, 2014

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. Increase our emergency funds for the home & office to 3 – 6 months worth of expenses. We are almost done with #2 and will start working on #3.

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Debt Money Emergency Fund Goals 100

Prairie Eco-Thrifter

AUGUST 10, 2014

It’s also important to take stock of your work situation and consider disability insurance. Consider the options, and whether or not your family would be ok if you were hurt and unable to work. If you have the resources, or you build up a good emergency fund, there are some types of insurance you might not need.

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Prairie Eco-Thrifter

APRIL 3, 2014

Now that you know what doesn’t work, it’s time to figure out what does. If you’ve been hit with some unexpected bills, create a payment plan and start building an emergency fund for future occasions. Look for your mistake and the lesson that goes along with it. Plan Your Next Step.

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Emergency Fund Debt Bills Money 218

Savings Corner

FEBRUARY 2, 2024

Her work has been featured in The Associated Press , USA Today and other major newspapers. She previously worked as an editor, a writer and a research analyst in industries ranging from health care to market research. She is based near Atlanta, Georgia. How much should I save each month?

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Calculators Saving Bank Banking 52

Prairie Eco-Thrifter

FEBRUARY 4, 2014

However, one of the reasons that this works for us is due to where we live. This means that after we take care of retirement and emergency fund contributions, and after everything else is taken care of, we have enough to do what we like. We live in a low-cost area. We live in a semi-rural area in Utah.

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San Francisco Emergency Fund Money Utah 248

Penny Pinchin' Mom

JANUARY 16, 2024

” Have Money Buddies Teamwork almost always makes the dream work. Tag team with a few friends who have the same financial goals as you, whether it’s a budgeting or a savings goal, and keep each other accountable. Have Separate Bank Accounts This should go without saying, but I will say it anyway: You need separate bank accounts.

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Personal Finance Finance Tips Finance Mom 52