Career & Finance: Debt Management
Why do you want to do this?
Given the trials of our personal finances over the last few years, I am realizing the importance of an emergency account. I was also inspired by another member's goal and decided to take the plunge.
What three things will you need to make this happen?
Allocate a specific amount of money each month to contribute to our savings account.
Adjust month spending to cover the allocation.
Setup automatic monthly transfer to our savings account for the amount allocated. This part makes the savings easier because I don't have to remember to do this each month.
What is the biggest barrier to your achieving this?
Adjusting our monthly spending. Given my wife's current employment status, our monthly income hasn't been as consistent as in year's past. While difficult, this is not impossible and means we may have to give up a few things we enjoy to ensure that we accomplish this goal.
As you progress with your goal, share the resources you find helpful with others who can also benefit from them.
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