Tag: Spend Less than Your Earn

Where to Stash Your Emergency Cash

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An emergency savings account should be a first priority when setting financial goals. The concept of this particular goal was discussed in the previous post – Rule #1: Spend Less than You Earn. Now let’s cover the details of making this a reality. The purpose of this savings safety net is to cover unexpected “emergencies” such as unemployment or loss of income, a major medical expense, an auto repair, a home appliance repair or replacement, etc. The primary function of Continue Reading →

Rule #1: Spend Less than You Earn

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In order to save and invest for our financial goals, we must live within our means – it is really as simple as that – but often challenging for many people to accomplish. All financial goals require a savings plan, but if all cash flow is allocated elsewhere, these goals cannot be funded. The only way to really know if we are living within our means is to compare and analyze our income and expenses. This is where tracking spending Continue Reading →