UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: 492dea Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308365  
Subject: Re: Where to start?!? Date: 8/3/2013 12:45 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi, GH!

It's so important that *all* members of the household are working toward the same goals, and it sounds like that is what you are working with. A great start!

Another excellent step is to take the credit cards out of wallets/purses; leave them at home to stop the increase in debt.

You will probably also want to keep some money on hand at all times for emergencies. Well, not cash under the mattress; more like a specific bank account with, say, $1,000 to be used only for *true* emergencies. As you know, life is always going to throw a curve ball your way, it's just a matter of when. So having the cash cushion allows you handle that situation without increasing debt. Of course, you will need to prioritize rebuilding this fund after each emergency.

492dea
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement