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3 Hacks in Building Your Family’s Emergency Fund

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Showing your love and appreciation for your family can go from heartwarming birthday messages and memorable outings, all the way to investing in your future. More than anything, financial preparedness is one of the best things you can give your loved ones. Having savings and investments in place helps take care of any future financial needs or unexpected incidents. Although financial preparedness includes things like life insurance, part of being financially prepared is simply having a family emergency fund. Creating this fund lets you focus on the essential things and rest easy knowing you’re prepared for any situation that can happen. When you first get started, building up your emergency fund can seem like a daunting task, though the process can be simplified into three steps:

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Emergency Fund

A Quick Guide to Starting a Family Emergency Fund in 2020

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One of the quickest paths to financial ruin is to incur an unexpected financial strain such as medical bills or a car breaking down and having to borrow money, whether in the form of a loan or by using a credit card, in order to pay for it. Luckily, there is a solution. Having an emergency fund for cases just like this is the perfect way to avoid these slippery financial slopes. So, what is the best way to begin an emergency fund this year?

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Not Saving Enough?

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If you are concerned about your current savings account balance, the first step is to actually seriously commit to saving more. There is an old saying which says “Nothing Changes Until You Do”.  Your savings won’t increase until YOU change the way you do things and the priority you give to savings.  Those people without any savings if they want to do something fun and the vast majority will be able to find the money to do it, so it’s not that they don’t have the money to save… it’s just not a high priority. So the first step in increasing your emergency fund, your savings account or your retirement fund is to make it a priority. Once you’ve done that you can look for places where you can save money to redirect into those savings accounts. Here are a few effective ways to save money that you may not currently be using.

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Money Milestones

Has Your Family Hit These Money Milestones?

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One of the biggest concerns financial planners talk about is the possibility of an impending retirement crisis. Many Americans have very little money squirreled away for their golden years. When it comes to retirement, hope alone won’t cut it. People need to start planning as early as possible for the later years. Here are some money milestones future retirees should begin working on sooner, rather than later. 

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6 Ways to Stuff Your Piggy Bank

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In the wake of the weakest economic recovery since the “Great Depression”, many paychecks and bank accounts continue to look a bit anemic. Some Americans are still in a position where they can’t even locate money to buy small things they need because their budget is so tight. The following are six tips that you can use to “Stuff Your Piggy Bank” and save some money each month even if money is very tight.

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The 2 Types of Financial Emergency and What to Do For Each

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No one is immune to the unexpected, and no one can afford to think that sudden financial emergencies will only happen to other people and not them. No matter how well prepared you are, there’s always the chance something can happen that goes beyond what you could have expected. Everyone’s financial situation is unique and complicated, but the two main elements you always need to keep in mind are your income and your expenses.

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Investing the right way

Investing in Your Future: As Easy as 1, 2, 3

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Start the money ball rolling by putting a few dollars away and before long you’ll  be able to develop a whole new approach to money… a little less focus on getting the next shiny object and more on building long term sustainable wealth. Saving will not only boost your financial security and your credit scores but it will also reduce stress and worry

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