How to Establish an Emergency Fund

Posted on December 6, 2012 by Families.com

An emergency fund is an important part of a healthy family budget, and it should always be established as soon as possible. Having a healthy emergency fund could mean the difference between surviving a financial crisis intact or winding up in serious financial difficulty. It is the law of averages that at some point in your life, you will be faced with a serious financial crisis. This could take the form of a job loss, a medical emergency, or a large and unexpected repair that is needed on your home. How much money should be in an emergency fund? First … Continue reading →

Are You Talking to Your Kids About the Financial Crisis?

Posted on October 17, 2008 by Michele Cheplic

According to money expert Suze Orman (who has become somewhat of a permanent fixture on “The Oprah Winfrey Show” as of late) the one bright side to our country’s current economic meltdown is that it is forcing parents to sit down and discuss money matters with their kids. Have you had the talk with your kids yet? You might have if you recently cancelled a planned family vacation in order to pay the mortgage or if you disconnected the cable in order to pay for food. Our nation’s current economic crisis has forced millions of parents from coast-to-coast to look … Continue reading →

Are You Living Paycheck to Paycheck?

Posted on December 14, 2006 by Miriam Caldwell

Are you living paycheck to paycheck? If you lost your job tomorrow would you be okay? How long could you last without a paycheck? While many of us hope to never be put in this situation, it is important to realize that it could happen to anyone. When I was first married, my husband was laid off for about six months, because the building he worked in burned down. He had just started the job, and so he did not qualify for unemployment. He did find another temporary job with a major cut in pay, but it took him over … Continue reading →

Financial Pitfalls: Failure to Establish Financial Independence

Posted on November 7, 2006 by Miriam Caldwell

One important step in managing your finances is to become independent of outside help. Usually parents or in-laws offer this help and it may be small amounts of money monthly or it may be large gifts of money annually. If your parents are in a position to give you money this is can be seen as a blessing. Many parents are able to help their children with a down payment on a home. They may also help with the purchase of your first car. While these gifts are nice. It is important that you do not become dependent on them. … Continue reading →