Living for today - Planning for Tomorrow
“How much should I save for emergencies?” That is a question I hear frequently in the personal finance world. There is no one-size-fits-all answer, but saving too little for emergencies is a dangerous risk you’d do well to avoid. Even the best and most disciplined financial gurus say so. In this article, I interviewed Emilie Burke, a personal finance, career, and wellness blogger at BurkeDoes.com.
Emergencies, by definition, are stressful. Even more so if you’re not prepared. Roughly 46% of Americans can’t cover a $400 emergency without borrowing money, going into debt, or selling something, according to The Washington Post. The last thing you need during that time is to feel stress AND panic, anxiety, or shame. That’s why taking defensive steps to establish your first emergency fund is so
One of the greatest ways you can boost your finances is to set a solid, measurable goal. That is especially true when it comes to saving money. Therefore, I’ve compiled this comprehensive list of simple money challenges that can propel you into greater financial freedom. 8 Simple Money Challenges That Will Beef Up Your Savings First, you need to know why you’re saving. Establishing that
We all experience emergencies at some point or another, right? Unfortunately, 62% of Americans can’t cover an unexpected $500 car repair, according to Bankrate. The need seems so prevalent to those who are already strapped for cash, but what about the ones who aren’t? Do wealthy people need an emergency fund, too? Do Wealthy People Need An Emergency Fund? It all looks so glamorous on the
My husband and I took a nontraditional route as newlyweds and didn’t buy a house for five years. We wanted to, especially when our children came on the scene, but our focus was paying off debt and saving up a down payment. The catalytic moment for our house fund was the day we discovered the 52-week money saving challenge. If you’ve ever owned a house,
When my husband and I were going through an extremely frugal season of our lives (in other words, we were broke), it seemed almost impossible to save much money. We put away whatever we could toward emergencies and were, thankfully, living debt-free, but that was all we could do. That was until we decided to take the 52-Week Money Challenge. This is the challenge that
How would you like to save $1,378 starting with a deposit of $1? The 52-Week Money Challenge is the perfect way to do that! What is the 52-Week Money Challenge? The run down on how to start this challenge is as follows: Step #1: Designate a starting week (many people start during the first week in January). Step #2: Deposit $1 on week #1. A
Losing a job is ranked among the top 10 most stressful things a person can face, according to the Holmes and Rahe Stress scale. With that in mind, is it even possible to prepare for a loss of income in order to lessen the stress it’s sure to cause? Yes. Whether you face a sudden or expected loss of income, there are steps you can
We all learn differently. Some learn best through the visual world; some thrive on a spoken word. Then there are others who enjoy parables or fables that weave a life lesson into a tapestry of story. Since you are kind enough to grace this blog post with your presence today, I have a hunch that you read books, too. I also have a hunch
Recently, I wrote about several apps that pay you money. Now I’m back to talk about apps that track your spending. Before I delve into the list, I think it’s important to distinguish the difference between tracking your money and budgeting your money. I used to think they were one in the same. Anything was better than winging it. That may be true, but I don’t believe a
