Tag: emergency fund

Finances, For the Love of Family

What is an Emergency? Four ways to define the REAL thing.

A big side benefit of my husband working in home remodel and construction business, is being the benefactors of items others throw away – sinks, dishwashers, etc. Mind you, these things are not thrown away because they don’t work, or are old, but because they don’t fit the new décor. We (Gary and I) are okay with old décor; family members – not so much. One of our sons asked, “can’t we ever buy something new?” The answer? “Apparently not”, but I digress… This is our current dishwasher – new to us about ten years ago, and it is time […]

Finances, For the Love of Family

6 EASY Steps to Creating a Sinking Fund

We all have expected, yet non-immediate expenses that seem to creep up and rob our emergency fund, and financial peace. When following the seven baby steps to financial stability, funding a sinking fund is recommended while simultaneously working on steps four through seven. Creating this fund will add another layer of financial security to cover known yet usually unplanned expenses.   Sinking Fund money set aside to cover expected, yet not immediate needs; can also be used for unforeseen needs (like a garage door repair!) A sinking fund will cover expenses like appliance repair and replacement, car replacement, major house […]