Three Practical Ways we Saved $520 a Month Last Year

Last week I wrote about how we’re saving for our home emergency fund and I mentioned that last year we were able to reduce our expenses by $400 a month.  After doing a year-end review of our finances I realized that the number is actually closer to $520 a month.  So I decided to outline how we did this. Last year we started on a mission to cut back our expenses and use that extra money to pay down our debt.  We have had a nice balance on spending and saving through out the years.  We saved to put 20% … Continue reading

Emergency Fund: Why Every Homeowner Needs One

I’ve written a few posts about our home maintenance costs and surprise repairs that have been needed for our home in the past year.  Last year we had to replace our air conditioning and water heater.  Just a couple of weeks ago we had to replace the sump pump.  The total cost of these repairs was $2,125. Thank Goodness for our Home Emergency Fund As a homeowner it is essential to have an emergency fund.  If it wasn’t for our emergency fund we would have incurred additional debt to pay for those home repairs.  And who wants that?   We’re in the process of … Continue reading

Lessons Learned in 2013

As the sun sets on 2013 it’s time to look back on the year and reflect on the lessons learned. This was our first full year as homeowners and we had a huge learning curve ahead of us.  The year brought some surprises as they usually do but nothing that we could not handle. Looking back I can see when some things started to become clear and were we had some lessons learned.       Lessons Learned in Personal Finance Our first lesson learned was that we really needed to restructure our budget and track our spending.  We started … Continue reading