Baby Step # 3 – Three to Six Months of Expenses in Savings In Baby Step #1 we talked about putting $1000 in your emergency fund because Jesus warned us, “in this life, you will have trouble.” We also defined an emergency as an UNEXPECTED EVENT THAT YOU CAN’T PLAN FOR. Your $1000 emergency fund was designed
“Money can’t buy happiness!” Well… that may not be exactly true. I just read an article by Guy Kawasaki about The Top 5 Ways To Turn Money Into Happiness It’s well worth passing on… Especially on Financial Fitness Friday.
Baby Step # 2 – Pay Off All Debt using the “Debt Snowball” List all of your debts, excluding the house, in order. List the account with the smallest balance first. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first. Continue listing
Baby Step # 1 – $1000 Emergency Fund To understand the concept of the $1000 Emergency Fund check out this video. (Really… Watch the video. I know it’s kind of weird but you’ll get it later.) [youtube=http://youtu.be/qymzkBlZ4bs] An emergency fund is like the toilet in the video and is for those unexpected events in life
Welcome to Financial Fitness Friday If you’re following our Facebook Page you already know that we went on a hunt for Dave Ramsey last week. Actually, we went to Nashville, Tennessee to attend Dave Ramsey’s Financial Counselor Training class at Financial Peace Plaza. WOW… What a great experience that was. The training was world-class, the accommodations
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