The first baby step is to save $1,000 for emergencies. The point of this emergency fund is to have money set aside when life happens.
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Similar ideas to 1. Save $1000 for emergency.
An emergency fund simplifies everything. If you are paying off debt, only pay your minimum payments until you can save $1000. If you arenβt in debt, but still spend what you have, set aside money every day or every week until you reach $1000. Matt D'vella, a famous minimalist and productivity you...
You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.
Common financial emergencies include job loss, natural disasters and car, house and health issues.
Your first step is to figure out what counts as a true emergency.Β
Not all emergencies can be predicted, but many can. Car repairs, medical expenses, higher-than-normal bills. Even having a list of things that you can and cannot spend an emergency fund on can help you stay on track a...
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