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Getting Out of Debt
Spending Fast – A Couple of Surprising Challenges
At the beginning of this month, we were (myself included) slightly skeptical on how we would fare on the spending fast this month. Would we starve? Would we go through spending withdrawl? Would we quit halfway through?
So far, none of these questions have been as challenging as we thought. I know this because Dana mentioned [...]
Emergency Fund- How Should I Invest My Emergency Fund? Part 3
My answer for what you should invest in is much shorter than the list of what you should not invest your emergency fund in.
ING checking or savings- If you have been reading this blog at all, you know my heart, for savings accounts, lies at ingdirect.com.
Money Market Funds-
You will see Money market funds in your [...]
Emergency Fund – Where do I put it? Part 2
Your emergency fund is not the account that is going to build wealth. Your emergency fund should be exactly that: a fund that is accessible for an emergency. Our definition of ‘emergency’ may be different, but I think of emergencies as something unexpected, like medical expenses or a job loss. Christmas & Vacation: not an [...]
Emergency Savings- How much should I put in? (Pt. 1 of 3)
This question seems to always come up when it comes to the emergency savings. Unfortunately, there is no quick answer to this. My answer is typically: it depends (gee, thanks Bryan). My general answer is 3-6 months of living expenses. If you don’t know your monthly expenses, this would be a great first step up [...]
21 days so far, 10 to go, Spending Fast Update
Here is a breakdown of what has happened over the last week and the ups and downs of our spending fast.
Expenses since we last wrote:
$18.00 Dinner on Friday night. What can you get at a restaurant on a Daniel Fast? Water and salad.
Nevertheless, our friends really wanted to go to Golden Corral and we couldn’t [...]
Spending Fast – Behind the Numbers (our budget breakdown)
Dana and I have been receiving questions about how we are saving a potential additional $1200.00 this month. We decided to give you a glimpse into our very unexciting 2010 budget to show you how it’s broken down.
Our average monthly expenses for 2009 were $1452.00 above and beyond our monthly bills. Some categories we stayed [...]
Why Are We Doing the Spending Fast?
I suppose this question needs to be addressed as it seems a little bizarre. There are a couple of reasons why we are doing this.
A spending fast slows us down a little bit, which is always good after a hectic holiday season. Buying ‘things’ will not make us happy. Spending time together makes us happy. [...]
Enough is Enough
Two years ago, my wife and I were making a five hour drive home from her parents house after Christmas. With Christmas behind us, we usually discuss our plans for the new year on this trip home. This year, I was not in the mood. I was 25 lbs overweight and had no energy. I was [...]
Three Ways to Raise Your First $1,000
We want you to save your first $1,000 as soon as possible. I don’t care what you have to do to get it (within reason). Once you get there, smile, and get to work knocking out your debt. Feel the stress release in your life. This is only the beginning to the peace and ease [...]