Tip #4: There is a difference between an emergency savings and a regular savings. The regular savings can be used to buy a car, for a down payment on a home, or for preparation to take a trip. An emergency savings is a small fund that individuals invest into for a “rainy day.” The emergency… Continue reading Emergency Savings vs Savings
Tip #3: It is not the big spending that puts us in financial trouble. The $7 here, $5.25 there, and the $12 everywhere is what gets us in trouble. Yep! Small spending does it all the time. Smaller amounts may look like no big deal until you check your bank statement. A lot of times,… Continue reading Small Spending
Tip #2: Sale does not mean saving! Just because an item is on sale does not mean that you are saving. The fact still remains that you went out and spent money. This was one of the hardest lessons that I had to learn. I thought because of a price being $50 to $100 cheaper… Continue reading Sale Does Not Mean Saving
Tip #1: The Three Times Rule. After purchasing an item, one should have three times that amount left in their account or on-hand (cash). If one will not have three times the amount of the price of that item, then one cannot afford it. The reason of the Three Times Rule is to make sure… Continue reading Three Times Rule
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