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Create an Emergency Fund
Do you have money set aside for things like job loss, illness or even a repair on the car you need for your work? If you do, then you know all about something called an emergency fund. If not, or you’ve been putting off starting one then here are some easy tips so you can take that first step. Emergency Funds are Vital An emergency fund is a budget smart person’s best friend. One of the top reasons to have one is you’ll less to have to rely on using a credit card and getting into debt which if you’re in the middle of a crisis like an illness or…
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Where to Stash Your Rainy Day Fund
You’ve heard me mention my maternal grandmother many times here at BSG. She’s one of my money mentors. She was widowed at 50 and was an independent woman who believed in taking care of everything (including all things financial), her way. (Stubborn is often what my mom called her). One of the many things she taught me was to have money to fall back on, the rainy day fund, that emergency fund I talked about last week. She was the one who took me to open my very first savings account at the ripe old age of eight. She deposited money to open the account and then told me when…
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Emergency Funds-Do You Have One?
Do you have enough money set aside should some major happen like losing your job, or even a everyday thing like needing a new set of tires for your car? My maternal grandmother (one of my money mentors), always had a rainy day fund and she taught me the importance of having one too. I’ve always set money aside for the just in case scenarios that always seem to happen when you least expect it. Take for example something that happened this week. Sunday lunch time I was eating leftover pizza and bit down and knew something wasn’t quite right. I realized I’d lost part of the filling in one…
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Deciding Why You Want to Gain Financial Freedom
Financial freedom is the end goal but why do you want it? Last week we talked about FIRE. I know many of you read and follow these posts because financial freedom is your end goal. Let’s talk about the many ways you can get there. And yes, sorry financial freedom seekers, there’s some sacrifice and hardship along the way. When I coach writing students I always begin with this question… Why do you want to write a book? Each person’s answer is unique to them. We all have different reasons and motives for wanting to do something. So, take a few minutes and think about why you want to achieve…