Getting Started With Savings
I recommend maintaining three distinct types of savings accounts: an emergency fund (with 3-6 months’ worth of essential living expenses), a big-ticket item replacement fund (where you save for your next vehicle or to pay for a new furnace), and a periodic bills and expenses fund (where you save each month for bills and expenses that you’ll have to pay sometime in the year, such as an annual life insurance premium or Christmas gifts). You could open 3 separate accounts. Or, I use Capital One 360, where one account can be set up with numerous sub-accounts.
Weekly roundup of some of the best personal finance articles from around the web. How much is $20 a month worth? (A Wealth of Common Sense). Boosting your savings by a little bit can make a big difference. How to save for a big purchase (Of Dollars and Data). Low risk isn’t the same as […]
Weekly roundup of some of the best personal finance articles from around the web. Spend your money on these three things to increase happiness, according to science (Becoming Minimalist). Good reminders about some of the best uses of money. 5 ways to land a promotion (besides showing you’re a hard worker) (Fast Company). How to […]
Much has been made about a recent dramatic increase in the personal savings rate. But the headline masks a couple of more important realities. First, the pandemic has divided the economy as never before. People who have lost their jobs aren’t saving more. In fact, many are running out of unemployment benefits and are barely […]
Weekly roundup of some of the best personal finance articles from around the web. Coronavirus makes emergency funds look like a great idea (Financial Planning). The pandemic is providing a good opportunity to shore up our financial habits and practices. Do you need to create or add to an emergency fund? Fractional shares expose Wall […]
Weekly roundup of some of the best personal finance articles from around the web. Making sense of a stock market that doesn’t make any sense (A Wealth of Common Sense). What to make of a market that rises on bad news. What would you do differently? (The Financial Bodyguard). Ways we should all build stronger […]
Weekly roundup of some of the best personal finance articles from around the web. Minimalism in a crisis (Becoming Minimalist). As we stock up on essentials, this is a good time to consider all that is truly non-essential. Personal finance during a crisis (A Wealth of Common Sense). An action plan for anyone whose […]
I’m guessing that most of us have a some day/one day list. Projects we’d like to get to if we could ever just find the time. Right now, with so many of us unable to do so many of the things we usually do, we actually do have the time to get to some of […]
Weekly roundup of some of the best personal finance articles from around the web. When dollar cost averaging matters the most (A Wealth of Common Sense). If you’ve been making monthly contributions to a retirement account, the best decision you can make right now — and the easiest — is to keep making those contributions. […]
Weekly roundup of some of the best personal finance articles from around the web. Stimulus checks: How much money will you get, and when? (CBS Money Watch). Treasury Secretary Steve Mnuchin says the checks could arrive in about three weeks. But first the House of Representatives needs to give its stamp of approval. Six smart […]
“The grass withers and the flowers fall, but the word of our God stands forever.” – Isaiah 40:7 With so much stock market turmoil and economic uncertainty swirling about, now more than ever we need the reassurance and guidance of God’s eternal Word. In order to cope with these challenging times, consider the counsel and […]
