As we continue to build our family emergency fund, I often think about what is the right amount. For the longest time I’ve heard from financial gurus you need to have a minimum of 3 months and possibly up to 6 months. We’re now hearing 9 months up to a year since the economic crisis [...]
Monday, May 24, 2010
People have certainly changed their motivation of getting out debt and saving based on experiences from this past recession. Many Americans were cash poor and paid dearly because of it. This was evident after so many people were laid off and had no cash to cover expenses while they searched for new employment. Many unfortunate people [...]
Sunday, December 6, 2009
Saving is an important component of personal finance and reaching financial freedom. Saving must exist within the family budget in order for a family to prepare for the future. Certainly, most families have savers and spenders, but the right balance must be found between the two. Too much emphasis on saving can cause money to [...]
Saturday, August 1, 2009
Are you into Baby Step’n or Money Map’n? Dave Ramsey created the Baby Steps and Crown Financial Ministries created the Money Map for prioritizing and setting financial goals. If you’re just joining, this is article #3 in a series called The Baby Step and Money Map Dance. I invite you to follow along with me [...]
Thursday, July 30, 2009
Are you into Baby Step’n or Money Map’n? Dave Ramsey created the Baby Steps and Crown Financial Ministries created the Money Map for prioritizing and setting financial goals. Both are widely used resources to help people shift from diluted efforts in achieving objectives to narrowing the focus on the most important goals based on one’s [...]
Tuesday, July 21, 2009
When was the last time you were caught in a financial storm? Sometimes when we’re in the storm it may seem like there is no way out or few options in front of us. And sometimes we just want to run for cover and avoid the storm all together. We all have financial storms. The [...]
Tuesday, June 30, 2009
Do you have an emergency savings account? Top financial experts recommend saving $1000 in a savings or money market account to weather financial storms before you do anything else. If you encounter a financial storm, the $1000 may just help you avoid using a credit card to repair your car, fix or replace the washing [...]
Thursday, June 11, 2009
How much emergency savings should you have? How do you know whether to lean more towards the lower side (3 months savings) versus the higher side (6 months savings) of the emergency savings fund? Dave Ramsey says this is a negotiation between husband and spouse. One person is typically the spender and one person is [...]
Just as the rich rule the poor, so the borrower is servant to the lender. (Proverbs 22:7 TLB)
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Wednesday, August 25, 2010
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