The Emergency Fund Re-examined

Jun 24, 2014 by

The Emergency Fund Re-examined

Practically every financial planning and personal finance book you’ll ever read advises you to start an emergency savings fund, or rainy day fund as some call it, to meet unexpected financial emergencies, as one of the first steps you should take to build wealth. Some advise a fixed dollar amount, such as $500 or $1,000, be set aside for financial emergencies. I’ve seen recommendations ranging from $500 to $12,000. Others recommend saving a certain number of month’s income for financial emergencies, such as three month’s income, six month’s income, or as much as twelve month’s income. Still others suggest setting aside a certain number of month’s living expenses, such as three month’s living expenses, six month’s living expenses, or even twelve month’s living expenses, to meet unexpected financial emergencies. So… With all this conflicting...

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Building an Emergency Fund Needs to Be Part of Your Financial Planning...

Jun 24, 2014 by

Building an Emergency Fund Needs to Be Part of Your Financial Planning

None of us have the ability to foresee the future or predict the hurdles which lie ahead of us. This makes building an emergency fund a financial priority. Building an emergency fund is healthy for your financial well-being, since you’re rarely given advance notice of a setback or an accident which will keep you out of work for an extended period. It is also a safety net that can save you from bankruptcy or severe financial hardships in the event of an unexpected change in your income or expenses. Housing a small rainy day fund should be a vital part of an individual’s financial goals. This is of high importance if you don’t already have readily available funds in your account for covering any unanticipated expenses. They provide financial security because they give you...

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4 Money Saving Tips For Every Homeowner...

Jun 18, 2014 by

4 Money Saving Tips For Every Homeowner

Losing weight. Finding a new job. Spending more time with the family. Every year add new new goals to our plate. Why not make saving money one of them? If you’re a homeowner, there are many ways you can cut costs and still live comfortably. The following tips will help lead you to financial success.  Here a 4 money saving tips that could help you do just that. First, set a budget. Figure out exactly how much you spend on the upkeep of your home. Compare each month’s expenses with the previous month’s to get a better idea of how much to budget for each necessity. Then, see what costs you can cut. Once you set a budget, stick to it. Save energy. You might be losing a substantial amount of energy dollars during...

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3 Ways to Save Money on Car Insurance...

Jun 5, 2014 by

3 Ways to Save Money on Car Insurance On the never ending quest to save more money this thought always creeps into the back of your mind twice a year. Is the gecko right. Could I possibly save anymore more on my car insurance? Yeah, I know you have already raised your deductible to $1,000 bucks, dropped your rental, and reduced your medical coverage. So could there be any discounts left? You can bet your bottom dollar there is (ok I may have let my southern alter ego out by accident…back in the cage he goes). The answer to the question is undoubtedly yes and yes this will most certainly take more than 15 minutes to accomplish no matter what talking lizards may say. I have 3 things that most people have yet to...

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