We have all heard the recommendations - have 3-6 months worth of expenses put away in an emergency fund.But where should you keep your emergency fund? I don't know about you, but I don't really want to keep that kind of money in a jar in my cabinet. Your Money Should Be Accessible I have heard some people say that you should put your emergency fund into "safe stocks," so that you can make your money work for you.On one hand, this sounds … [Read more...]
It Isn’t Too Late to Start 2019 Off Right With a Savings Challenge
Let’s be honest, saving money can be a grueling process. For some reason, it’s incredibly hard (for me anyway) to put that $20 into a savings account instead of leaving it in my main account. But, if I leave it, I just know I’m going to end up spending it. So it’s safe to say I am always looking for a way to make saving more fun: enter the savings challenge. Savings challenges are a way for you to make a bit of a game out of saving your hard … [Read more...]
7 Easy Ways to Save At Least a Dollar a Day
If you saved one dollar a day, you’d have saved $365 in a year. Which doesn’t sound like a lot but can you imagine what you’d do with that extra money? I can, and it’s all bad, but regardless I’m totally up to save a dollar a day. Make Your Own Coffee I admit that I’m not a coffee drinker, and if you are one you are likely rolling your eyes at me. That said, hear me out. If your coffee costs $2.15 (which let’s face it, it doesn’t, it costs … [Read more...]
How much money do I really bring in?
As much as I love spreadsheets and tracking my finances, I realized recently that one thing I don't know is how much money I bring in every month.Sure, I know what my paycheck is and if I have any alternative income that month (blog checks, Ebates cash back, etc), that gets tracked in detail, but I don't ever think about my gross salary or interest on investments and savings accounts. I think this is because I try to not think about my … [Read more...]
10% for what?
I have a small financial confession to make. I have no idea what it means to save 10% of your income.Ok, let me clarify. I know what 10% of my income is. And I know that financial advisors seem to say that you should pay yourself first and save 10% of your income. My question is this: What is that 10% for?Does that 10% include the 5% I put into retirement savings? Or should I be saving 10% in addition to that?Let's assume that it … [Read more...]