I had some lofty goals for 2022. We wanted to max our Roth IRA, save for a move, and pad our emergency fund. That was difficult to do on a single salary in Northern California. Here’s a breakdown of our financial goals last year and whether or not we met them.
When I first started budgeting, I built a small emergency fund of $1000. This is the first of seven baby steps recommended by Dave Ramsey. Over 6 years, we built up the emergency fund to cover 6 months of expenses. At the same time, we also have sinking funds. So what’s the difference between emergency and sinking funds? And do we need to have both?
How I got out of the paycheck to paycheck cycle and grew my net worth
Before I started budgeting, I was horrible with money. I had a minimum wage, part-time job, and was living paycheck to paycheck. I also got help from my parents with tuition and some living expenses. But, I still wasn’t making any progress in my financial situation, as my checking accounts always dwindled back down to zero at the end of the month. I couldn’t build up any savings or emergency fund, which was horrible since I couldn’t come up with the funds for an emergency root canal.
In 2014, I started to learn about personal finance and budgeting, and tried YNAB. I credit the YNAB method on getting out of the paycheck to paycheck cycle. Here, I want to go over how I got out of the paycheck to paycheck cycle and was able to save for emergencies and future large purchases.
Last week I wrote about credit card churning. This week I want to go over the credit cards we use for cash back and how we optimize their usage to get the most discount. By stacking these with cash back portals and discounted giftcards, we’ve been able to get almost 25-30% discounts on our recent purchases.
Happy new year! it’s a new beginning. This year, we decided to automate our finances. After figuring out our monthly expenses, setting our budget in
My husband and I are frugal, but we’ll pay for long-lasting high quality items. Here are some of the items that saved us time and
Today I want to reflect a bit on my gradschool budget. I got a stipend of about $2350 each month. We split our bills 50/50
Why should students care about budgets and savings? Don’t we have enough things to worry about? Classes, exams, research… Now you want me to add