Posts Tagged ‘emergency fund’

A Story About American Economy
This week a friend of mine sends a story that funny, yet revealing about the fading American economy.  The story was entitled: Why you cannot find a descent job in America? And here’s the story:
Joe Smith started the day early having set his alarm clock (MADE IN JAPAN) for 6 a.m. [...]

Not long ago, I participated in a lively conversation in the GRS forums entitled: Debt Snowball vs. Emergency Fund. The premise is very simple. Should the person start an emergency fund while he’s still in debt? In this case, we are talking specifically about credit card debt averaging 15% in interest.
Photo by [...]

In the past few years, Americans average savings rate has declined precipitously — in fact the current savings rate is practically zero. This means that as a society, we are not saving any money. Worse, we have a habit of borrowing to fuel our consumption. We are spending more than [...]

I’d like to do a quick roundup this week to highlight some new features introduced in the past few days. I think you will really like these:

Recent Discussions – On the main navigation bar, the second link is “Discuss“. This link displays 30 posts with recently added comment. If you are familiar [...]

So the stock market is doing badly and there’s fear of recession. To combat our economic downturn, the Fed slashed interest rate by three-fourths of a percentage point, and the Congress hammered out a deal for a $150 billion in economic stimulus package.
What does this mean? According to the news, Americans taxpayer making [...]

This post is inspired by one of my readers, whom I will call Mr. M. This is not the usual improvement tips, so don’t follow these. If anything, please do the opposite. Here are 10 ways to completely ruin your credit score, waste a lot of money, and get yourself in trouble:

Respond [...]

Recently, my friend Patrick from Cash Money Life wrote, “Your Greatest Asset is the Ability to Create Income.” In it, he said:
“What is your greatest asset? Most people think it is their house. They are wrong. Bank account? Wrong again. For the vast majority of people, the greatest asset they have is the ability [...]

Many financial professionals and experts advocate that we keep at least 3 months of living expenses in liquid investments such as CD, money market, and high-yield savings. If you have any doubt regarding the validity of this advice, here are 10 reasons that may change your mind.

Photo from morgueFile
If you are in a money [...]

In the previous lesson with my wife, I taught her about various investment vehicles available at our disposal. This time we discussed choosing the right tool for the job; that is, choosing the best investment option available for various savings goals.

Photo from morgueFile
Common Savings Goals
First, we reviewed some of the more common savings goals. I [...]

Last week Glblguy wrote about a Guideline Budget and Lynnae’s husband lost his job (sorry about that). After I read the two posts, I realized that a good budgeting plan could be a great blueprint for an emergency plan as well. It’s one thing to have 3 months worth of expenses saved as [...]