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Home Maintenance Fund

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Emergency funds. Safety funds. Cash on hand. Whatever name you call it, we settle our financial affairs in cash.

I’ve stated emergency funds are the center piece of having your financial life together. It’s there in case things go wrong or something major breaks and needs replacement. It’s there to prevent you from going into debt to pay for something that needs immediate replacing.

Whatever your emergency fund is designed for, be sure to include a little extra on top to handle routine maintenance on your home. Continue reading Home Maintenance Fund

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Three Revelations I’ve Had About Money

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I’ve spent a ton of cash over the years. I believe I’m much more responsible with funds than I used to be, or at least more conscientious about where my money goes. Here are three revelations I’ve come to have about money. Continue reading Three Revelations I’ve Had About Money

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Keep Your Emergency Fund in Cash

African-American male hands cradling a piggy bank.

So you’ve built up your safety net. You have all this cash available to you at a moment’s notice. You’ve also determined what is a true emergency and what is not. You think about to all the real emergencies you’ve had and realize it’s somewhere between 0 and 1. You feel you really won’t have to touch this money for a long while. Finally, you can move on to your next financial goal.

After several months, you begin to notice that safety net fund just sitting there collecting pitiful interest because that’s what the environment is and you can’t control that. You begin thinking you should be doing something else with that money to make it grow. Continue reading Keep Your Emergency Fund in Cash