Common wisdom in the personal finance world is to have an emergency fund. We all explain how important it is to have a fund that is big enough, but we never talk about when your fund may be too big.
Are you ready for an easy project to save you money and help the environment? It is fairly easy and takes a relatively low investment. Change your light bulbs.
Having a family of five we’re always looking for ways on how we can save money on every day, common expenses. We like to be frugal in many areas so that we can spend money on other things we enjoy and ultimately that comes down to making hard choices about how we spend our money. While we have come up with a number of ways, the possibilities are really limitless in terms of saving money and ultimately come down to what you value and what kind of lifestyle you choose to live.
Anyone who has been to the grocery store lately can attest to how difficult it has become to stretch a grocery budget. There are numerous reasons behind it, but most point back to the drought last year and we’re now starting to see the effects of it when it comes to our final grocery bill. While many people already use coupons and know about matching prices, my wife and I have implemented a few more ways to help us stretch our grocery budget further.
The end of the year is approaching and with it an excellent time to analyze your financial house and see what changes you’d like to make for the upcoming year. For some this might mean examining their spending for ways to save money. With a few tips you can be on the road to saving money and improving your financial health.
Personal finance folks often throw around the term “pay yourself first.” It is a bit big-headed of us to assume you know how to do that. Here are some steps you can take to put the most popular finance advice to work.
I always encourage readers of this site to save up an emergency fund that can cover your cost of living for at least 3-6 months and has enough of a cushion to handle anything unexpected that comes along if they can’t afford it. I am glad I followed my own advice. Experience showed me why it is important to save up for an unexpected disaster.
In the past, I have written about the importance of an emergency fund many times, and have even given you updates on my progress to save up cash just in case. I have decided that am emergency fund is not good enough for my current situation, and I am saving up for something new I am calling a “Liberty Fund.”
Your first job. Such a big milestone. For the first time ever, you are financially independent. You have moved on from being a broke college student to a successful young professional. Don’t get too comfy with that big paycheck, though, it is time to start investing.