Tag: budget

3 Ways To Save Money at Christmas

As much as we intend to save up for the holidays, Christmas can seemingly come out of nowhere. Before you know it, freshly cut trees are on sale at the local grocery store, the food prices are high, and you still need money to buy presents and decorate. Don’t worry. There are plenty of ways to celebrate — even in a tough economy, where it’s hard to sock away cash. Here are three ideas.

3 Things To Consider When Starting an Emergency Fund

Building an emergency fund into your budget can protect you from financial disaster and crushing debt from unforeseen circumstances, such as a car breakdown, unemployment, or a health crisis. Experts recommend saving enough to cover up to six months of expenses. That number might initially seem daunting, but focusing on these three key aspects can help you succeed.

What Is a Sinking Fund and Why Have One?

A sinking fund is a tool to save money over time for a big purchase in the future. You create a line item in your budget for the expense, like a vacation, car, or down payment on a house. You “sink” a bit of cash into the fund when you get paid. Eventually, the money accumulates, and before you know it, you’ll have the means to afford the planned item without experiencing a massive impact on your monthly financial obligations.