Building an Alternative & Frugal Emergency Fund
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- Опубліковано 14 тра 2024
- You need a financial and physical reserve. But how do you actually manage it? I'll tell you my methods.
Frugal Queen in France
We are a British couple living in Brittany on a budget.
Frugal recipes, days out, home renovations and day to day making do in France.
We’ll give you hints, tips, advice and an insight into our life in France.
Website www.frugalqueeninfrance.com/
Instagram / frugalqueen. .
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Having an emergency fund is vital! This past year has been one emergency after another - serious illnesses, hospitalizations, funeral expenses, home care, plus a slight drop in income. Thankfully we had an extensive supply of food, medical supplies, two sets of tires we swap out on our vehicle, and the luxury of being able to travel to help family members in crisis for extended periods of time. This would not have been possible if we hadn't stocked up and planned ahead. When it rains, it can pour, but if you have planned for a deluge, you will survive.
I'm planning helps everything
Sorry for your loss. Having an emergency stock of food and supplies is not only smart but a great way to be able to bless others.
The groceries stockpile is very, very important. Good job.
Thank you, Rena. Indeed, having a good supply has allowed me to help some of our friends who don't earn much. They can shop our pantry when needed, and then I don't worry that they aren't eating!
My kids do the same.
I'm currently working on my emergency fund of fire wood. I made friends with a tree looper. Every few days or at least once a week I get a load of wood chips and he knows to leave branches I can cut whole. It's been 3 months and I have I think 3 years worth of wood. Yes it's green and needs to season but that's OK because it's for the future so it will dry. I've also built mine and my elderly neighbours garden beds up with mulch. Which is an emergency fund for my soil. Cost me nothing but gratitude and a few boxes of chocolate to keep him coming back lol.
That's so important, we're always working on our wood supply
Fantastic ideas!
We told our county clean up crew to throw downed trees over our back fence after storms, they do and its usually cut into manageable pieces..we then cut into firewood ..been a money saver for both...us in wood to burn, them saving gas and time hauling it off...
You are living proof that an attitude of gratitude goes a long way
In 2017, I was made redundant from work. I knew ahead of time and started stocking up on everything, especially the more expensive items (e.g. laundry detergent, dishwasher tablets, toothpaste, cat food). Luckily, I did, because 9 days after losing my job, I ended up in hospital with a bilateral embolism. I was very, very ill but had everything I needed. Ever since, I have stockpiled and lived frugally. I absolutely love it. The fact that I have everything in the house was such a revelation, especially since I live in rural UK and can't just pop out to get things. I used to live in Amsterdam and did my shopping almost daily. Always said: "I can't think what I want to eat in 3 days' time". Now I have all the ingredients and can make loads of things. I have been ill/hospitalised many times since 2017 (3x bilateral embolisms and a stroke), and I couldn't live any other way. Especially since I am on my own.
You are very well prepared
@@FrugalQueeninFrance it gives me peace of mind. Also, when we get snowed in or something. I can eat for a while from the larder and freezer. I do like having a large emergency fund and savings as well. The future is too unpredictable.
I like the way you handled it all . A lot of people don’t think ahead !!You ate so brave to handle it all in spite of your illness!!
@@regdesousa9763 Thank you, you are very kind. Just one more surgery to go and then I hope to have more energy and go back to the life I used to live. Thank god my work is all brain stuff, so I could keep doing that and even got a promotion. I can't imagine what I would have done if I had a physical job.
I write the date on things, so I know how long they last. For example, I know we use on average 1 toilet roll a week, a box of soap powder lasts 6 months. 120 dishwasher tablets lasts a year or more. By knowing this, I can purchase these items when they are on offer, and buy 6-12 months worth, but no more. I don’t want hundreds of euros sitting in my cupboard, when I know it will be back on offer same time next year. Having a pantry full of tinned and home jarred food is our emergency fund. We get free meat from the hunt, so food budget has been reduced greatly. Any extra at the end of the month now goes into savings, as up until mid last year, we had no savings at all. We had no debt, but just couldn’t catch up. We have slowly managed to get a small savings pot which equates to about three months living expenses. Our plan is to increase our savings to around six months worth of living expenses by end of the year.
I wish you well
Great idea writing dates on things so u can track how long they last! Budgeting is more effective when u know how often u need to replace items, especially regularly used items. ❤
I do that as well. It keeps you from tying money up in non perishable items that you won't need any time soon. Space is also a budget item and I need to use what I have wisely
When my grandchildren were born I set up a college fund for each of them. I buy very few gifts for them but monthly I put money in their college funds. I feel like I’m really helping them.
You certainly are
I really appreciate the perspective that a pantry/stockpile is a type of alternative emergency fund! That makes sense. I was also inspired by the poster who talked about their emergency fund of wood. Thank you, Frugal Queen and community!❤
Glad it was helpful!
This was such an interesting way to look at emergency funds. It really made me think of a good friend of mine who did this instinctively. Early in her marriage, they had two small kids and she'd decided to go back to school for a different post-graduate degree. So they found themselves with one income and a very tight budget. This was when my friend started stockpiling food, etc. (Her family has been teasing her about "her shelves" ever since.) Recently, i asked her why she'd stockpiled before it became common and she said "what if my husband had lost his job? At least we wouldn't have had to worry about spending money on food. We could use the money to pay bills until he got another job." Some people seem to be naturally good at this type of thinking. Others of us (like me) have to learn. People like my friend -- and you -- have helped me so much. Thank you. :)
She's right
In a matter of a week, our microwave died, the dishwasher died, we have a steady leak in our shower that yields 5 gallons a day, and I came down with pneumonia. My husband is also away on business. Well, stiff upper lip! The kids helped cook meals and wash dishes, we used some emergency money for takeout on my bad days, and the kids watered the garden with our extra water.
We're not replacing anything yet because we can adapt. But knowing I have the funds to do so when ready is a great relief.
It never rains, it pours
I have only had an emergency fund of $1000 as I am putting everything possible towards paying off debt. I just had a very unanticipated auto repair, and had to use all (!) of the $1000 to pay for that. Luckily, I have a very well stocked pantry, so the next few months will mean buying few groceries, and rebuilding my little emergency fund.
That's proves my point perfectly.
Peace of mind is priceless. 🎉Thank you so much for your wisdom❤
Thanks
I have been working on our emergency fund/sinking funds for a couple of years.
So far in 2024
I have had to replace my 12 year old desktop computer and printer, spend $1,800 on car repairs and now a new subfloor and flooring in kitchen due to water damage. Estimated $1500 to $1800. Now my husband thinks 4 tires for his car are in the near future.
I do stock my food pantry for several weeks, cleaners and paper products. Due to a small freeze only a couple of weeks for frozen items. No room for bigger freezer.
Thanks for sharing your ideas.
So glad for the emergency funds.
Thanks
You are so experienced with this lifestyle, that it makes you a great teacher. Thank you!
You are so welcome!
A well stocked pantry and freezer is better in some ways than money in the bank.
I think so
Maybe not always instead of, but a mighty good complement
I was at the store last week, to get little one a couple of summer pjs. (I got him a size up so hopefully they'll still fit him next summer as well). Also while I was there I walked though the basic aisles and found clearance socks and underwear for 50¢ a pair. So I picked up the next size up as well. 😀
Good tip
What a great topic. I’ve never looked at an emergency fund this way. I’ve only looked at it as financially. Thank you. ❤
Glad it was helpful!
My late husband was self employed and had a very variable income. I have shopped this way for a lot of years I tried to carry 3-6 month supply of everything we needed to buy regularly. This allowed me to have no spend months on the months when our income was low. This has got me out of many a scrape over the years.
And us too Pat
This totally hit home. I put away sunscreen last fall on clearance and also stocked up on burn salve, and pain relief cream and spray. And between sore backs from wood splitting, and a wasp sting, and a oops chainsaw burn while trying to shoo away the wasp, each of these were needed. 😮 Having ice packs, and the needed medication/first aid on hand was relieving. Both for my husband's injuries, and for my piece of mind knowing that he will be comfortable in no time. I shop for our clothes off season. We just got winter slippers on clearance, in January we got sandals on sale. I am able to do that because we have a good food pantry, of stores that allow me to do months of the year with little or no grocery shopping.
That’s great foresight
I and Mike have an emergency stock of foods. It really helps us financially.
It really does
I really like this idea around separating a monthly amount that you can spare if items are on sale and putting it away especially around meds as a emergency fund, if you are suddenly short on money I always have a stash of cans and a bit of stock cupboard on the go. I'm a bit short on space so can't store lots but from the begining of the year ive been saving in different sinking funds ie dental care, home repairs my boiler will need to replaced at something in the future and personal care etc, yesterday as part of mental wellness month in the uk they were discussing on radio 4 how money affects and the effects your emotional wellbeing and how people have found themself in financial difficult especially with the increasing cost of living mortgages energy and food cost and how people are managing their mental wellbeing in the here and now, people who didn't struggle in the past are now struggling.
It's a real shame.
Love that way of thinking about it emergency fund of warmth .:)
I miss layaway that use to be in the USA, I would layaway school clothes, shoes, and holiday gifts and on it every pay.
Me, too! The best part is that if went on sale, the store applied the sales price.
Great topic! My grocery store recently had cold and flu meds for $5.00 off so I grabbed one. Exp 12/2025. The same week, I needed to restock some first aid. They had store brand things I needed on sale for buy one, get one 50% off. I also got extra rewards points! I love using sales to stock up.
That's very sensible
I bulk buy toiletries and cleaning products when they are on offer. There is always a sizeable reserve in the pantry. There is an emergency fund for appliances, unpredicted car maintenance etc, however, this isn't in labelled categories, which I need in order that sinking funds are set up and ready to go.
Thanks
Possibly my favourite of all your videos. An emergency fund Is so much more than just money
Thanks for your reply
Thanks for going into depth on this topic Jane and Mike.
I've just had a mini dental emergency. My bridgework came loose and had to be re-cemented for the 4th time. I was told to baby that part of my mouth and start saving.
Thank goodness for "advance notice!"
Thanks
I am preparing for the day that our pension won't pay for much more than a cup of coffee. Sounds crazy, but it has happened before, and if one does not learn from history, they are bound to repeat it. To that end, we have a good stockpile of food, frozen, dried, in jars and some in cans (tuna for the cats and me). I have whole wheat and rye grain, plus two grain grinders, one electric and one non. We have next year's firewood cut and most of it is split, and drying under cover, when the garden is planted, we will start fetching more firewood. Our stock market is livestock, a dozen hens and a rooster, and well as two doe rabbits and a buck. We have an ample feed supply for them, a lot of it is free and in return, they give us meat, eggs and fertilizer, and even a few dollars when we sell some extra eggs and rabbits.
Thanks for your post
My stockpiling has saved me so many times. I broke my arm just under the shoulder socket and was off work for 5 wks and limited a few additional weeks. Managed mainly with what i had on hand. This was before home delivery and shipping items became so prevalent. I was ok during covid shortages, even able to help neighbors. Always put together a winter tote. Cold/flu meds, cough medicine, Ricolas, gatorade, puffs with lotion, cup of soup. I live alone, so it's a struggle when I don't feel well. I always keep things like gingerale, sherbert, soda crackers, protein drinks, and oj on hand. Also have a collection of small bills everywhere. Work bag, home, car, everyday purse. Love the way you budget the previous month's income. I'm building up the money in savings to start doing that. I'm going to have a setback in June. I've been called for jury duty in a large city an hour away. Daily stipend won't even cover parking fee. Employer will pay regular wage less stipend for up to 5 days. I'll also have to board my dog. Can't leave her in her crate 10 - 12 hrs.
Ouch, those loses sting
Great advice and all completely current considering the state of the economy atm wherever you live. I started my pantry during covid(2020) and was laughed at by my family/kids....now they all come and 'shop at the corner shop' as it is known...I make sure I rotate everything and check dates on tins/packets regularly exactly as you suggest, and guess what...no one teases me anymore! It's so useful as I can meal plan for a whole month by checking what I have in my freezers and the 'corner shop'. Only this weekend my daughter helped herself to laundry washing sheets ( I don't use powder or liquid anymore but the sheets) and she did say thanks Mum!
Love your videos and advice and it reinforces and reminds us of all the good things to do, and keeps us all on the straight and narrow!
Thank you
I you’re a new follower please listen carefully. Jane and Mike offer excellent advice.
Thanks
Thank you Jane ❤ watching from Chicago … I follow you for many many years !
Wow, thank you
Thank you so much for all the helpful hints, tips and advice. I enjoy your video's and I appreciate all the effort you put into making them. Thank you!
Thanks for watching
I had planned to do a pantry challenge this May, but having heard that my continuing treatment for a brain tumour will start at the end of this month, and continue daily for approximately 45 days involving a round trip journey of 90km each day, decided to top up everything instead and do the pantry challenge in June so we’ll have the extra money we need for the diesel xx I might never have thought of this without watching your channel so thank you for sharing
One comment on medications…in early 2020 when Covid was unknown and scary, I made sure that I had a good supply of all OTC drugs. And just last week I went through the medicine cabinet and disposed of nearly full bottles that were 1 or 2 years past their expiration date ☹️. I’m here to warn small households to be realistic about how much (or little) they actual use and prepare accordingly.
We can't over buy here due to cost and regulations
Those dates mean nothing. They can still be used.
Make sure you take the expired meds to your pharmacy for safe disposal. They can all be in one jar. Do not flush them or put them in your garbage
I Watch u tubers throwing out expired food all the time on decluttering channels .
Its important to go through our stockpile and if we have over purchased at least donate to a food bank
before it expires.
There was a study done over 10 years ago... I don´t remember in which Country, but I believe it was in the States. Anyway, they found a bunker full of all types of meds that had expired years and years prior and they tested them for effecacy and found that over 90% were still effective and the otherones were fine, but not as strong.
Supermarkets normally have really good deals on stationery during their back to school promotions in the summer. As well as getting anything my grandchildren need then I also get a stash of things I know they will run out of/loose during the year; this varies between each GC. Not only are the items cheaper then but avoids Sunday evening panics of “I don’t have/need a ……..”
thank you for your videos. we are implementing a lot of the things you speak about here on your wonderful channel. thenk you for sharing your wisdom with us. it is truly needed in this world today.
You are so welcome!
I appreciate your perspective on the value of stocked items as part of an emergency fund. Very interesting and so true. I have become very vigilent about budgeting and expenses since retiring. However, in the past year I have taken some huge hits - some I was already planning for that came early and some that were not expected. I can cover them but now am rebuilding. The information and ideas in your content is always thoughful. Thank you.
Thank you
Than you for this fantastic video 👍 We have been slowly building a good supply of food and toiletries etc for years and I always thought of it as money in the bank but I know a lot of people just think "crazy prepper" because of what they see on tv. I am thankful a sensible person like you is educating people to think an alternative way. We are early retired in the UK no mortgage or debt and living on £1100 a month and some months are a little harder than others but with my stockpile we are never ever left feeling deprived and I know we can fix or replace anything we need to. Have a wonderful day ❤
I found it easier to build a stock pile than savings
@@FrugalQueeninFrance so did I. Money always seemed to find something to be spent on but if I spent it on groceries etc first it was done and we had food in the pantry for a rainy day 😁
Loved the new puppy pics at the end! :)
Us too!
Hey lovely Queen, I need help organizing my supplies lol !! That is smart and offers a peace of mind when everything else is crazy around you . Also make some of it mobile or ready to go in case you need to move to a different location.
Wow , ❤ Jane ,your hair is growing !
It’s lovely isn’t it
I think that's a great idea to stock up on toothpaste laundry detergent etc. I just buy by the week so if I bought ahead I could save money
I hope it helps
I am inspired to start an appliance replacement fund. Great ideas!!!
You can do it!
My ' emergency fund' of food, loo paper, cleaning products and painkillers came in very handy when i broke my leg in 2016. Folk used to laugh at my ' overstocked ' cupboards but i was able to leave hospital and fend for myself after 6 weeks staying with a dear friend, because of my 'emergency fund' P.S. keep some cash in smaller denominations in the house, too. Then folk can do little bits of shopping for you.
It’s a method that’s kept us going when we need it
Our emergency fund of food fed my husband + I for the month we were quarantined during Covid. He laughed at me when I bought extra food each week but he doesn’t now. Wish I convince him to buy a solar generator but I guess we’ll have to wait until he is inconvenienced by a blackout.
Tesco were giving away a free household cleaner last week. Not one I usually use but I’m not passing up a freebie. Look out for coupons like this.
Good news
Jane, thanks in part to your videos, I paid down a good chunk of my last remaining debt (credit card) yesterday. It felt soooo good to see the new lower balance on my bank app this morning.
Wonderful!
Hi Jane
Good ideas to apply for our emergency funds. Thank you from LA.
Glad it was helpful!
We are proof that insurance doesn’t always cover. We were hit by a tornado and insurance fought us tooth and nail. It’s not like we planned it. lol
Our insurance took 7 months to pay after the storm
How awful for you. A friend of mine here in the UK had her house flooded when a farmers stone wall collapsed. Both her and the farmer ( good friends btw) are fighting their insurance company to get help to restore my friends house!
Old coffee jars are my go to for oats, pulses, lentils, rice and other dried goods, decanted, makes it easy to use and grab when I need to 'bulk up' a dish. Going through them this week, I realised that I hadn't used 2 jars or dried beans because they needed soaking before cooking. So, I bulk soaked and bulk cooked them up, cooled them and froze them. Now they are ready to go in a freezer bag to be added to soups, salads, bakes and stews and will be used up over the coming months. I guess I'm saying that some 'rainy day' items need to be processed at home so that I will use them easily. This has made me look again at what I am not using, that I could be using....
Great tips
I am loving reading the comments. Jane you will like this but I keep a lot of fabric and craft supplies... mostly found in thrift stores. But with these I can make so much including gifts. I can also do repairs. I do keep an extensive pantry and also a laundry, medical, hygiene and pet pantry.
That's very sensible
I have a large stockpile of fabric/quilting supplies and craft stuff too. I make most of my gifts as well. Smart people.
Great topic and really good practical advice thankyou
Glad you enjoyed it!
As always great video ! Really makes you think! I like you purchased a years' worth of detergent. I finally started using laundry sheets. No more big jugs of soap to take up room. It is atrocious how much toilet paper is here in the US. Living in the desert you have to have to have to keep plenty of bottled water on hand, so I am buying that every time it goes on sale.
Thanks for sharing!! 24 toilet rolls cost us 4.10€
@@FrugalQueeninFrance 24 rolls of charmin is 32.99
Thanks Jane! I always appreciate your helpful ideas.
You are so welcome!
Thank for another great video. I would not have called stocking an emergency fund but it does make sense. I do this all the time. I also have an emergency(money fund) if needed.
Thanks for sharing!
Thank you for sharing these useful tips. You have a great way of breaking it down and making it easier to understand. Have a great weekend 😊.
Thank you! You too!
You have such excellent suggestions…you could give talks on this and make extra money.
Thanks
I make a gallon of "sun tea" in the fridge overnight during the summer, to make iced tea (TEXAS). It only takes 5 black tea bags to reach the strength I enjoy. At Aldi, a 100ct box of teabags is $2. One box will make 20 gallons of tea, for 10 cents per gallon, that is about a month's worth of iced tea. I've heard there may be a tea shortage - so I am buying a few extra boxes, enough to get me through 2 summers (5 months of summer here). This is an item that adds to my quality of life for very little money. I'm happy to find room to store it.
As a Brit, I shudder at the thought of cold tea.
In TX as well! We have iced tea all year. I didn't know there might be a tea shortage. I'll have to stock up as well!
There's always the issue of making sure you don't run out of cold and flu medicines and treatment for medical emergencies.
If you're ill or injured, it's NOT the time to realize you're out of medicine or first aid supplies! 😮 Especially if you live far out in the country like I do.
We'll said
Lots of great ideas. Thank you!
Thanks
Very interesting topic! Thank you!
Glad you enjoyed it!
Thankyou both for your excellent tips today! 😊👍
Our pleasure!
what a great vlog !! thank you 😊
Glad you enjoyed it!
👍👍👍
Great video!!
Take care🦋💗
Thank you! You too!
I don’t have kids, and at my age, won’t be having any. But your idea of stocking up on children’s future needs is brilliant!
Thanks
I agree. I have lots of grandchildren and stock up on school supplies for them all year.
💖💖💖
Excellent knowledge! ❤️
Glad you think so!
❤
Great video 😊
Thanks for the visit
Emergency "funds" are vital (I call the main one a fund & others monthly, bi-annual & annual sinking funds). Pantry+ is the same (working, extended & long-term).
Thanks for your thoughts on this
Hi Jane, here in the UK, paracetamol or ibuprofen can cost over £2 in a pharmacy while in Lidl, Aldi and Home Bargains you can get the same products for under 50p. I add a couple of packs to my shopping every couple of weeks.
Thanks for sharing how you live frugally x
I might have mentioned, we can only buy any kind of medication in the supermarket and have to ask for it over the counter.
We take advantage of our health insurance benefit that provides 60.00 each in over the counter products.
And that is every quarter!
❤❤
Thanks
Thank you for your lovely video, Jane. Another way to have an alternative emergency fund is to grow herbs in the garden for natural remedies.
We use one cleaning concentrate which acts as laundry detergent and cleaner (also hand soap and shampoo when diluted differently). It is so nice to have just one product to keep inventory of instead of 5-6 different cleaners.
Planning ahead certainly saves on financial stress as well as emotional stress.
Good tip
What's the name of the cleaner you use?
@@donnasnesko8280 It is called Branch Basics.
@@FrugalQueeninFrance Thank you!
We call these "investment purchases". Some are small and relatively inexpensive. Some are not. This year, we have an emphasis on the 2024 Bigger Ticket Item Fund with 5 items on the list. The priority order is subject to change and we've done #1 and #2 already. Both were vehicle maintenance/ repair related, both morphed beyond thier original scope, and both should set the vehicle good to go for a while. All but the alternator got taken care of before they went to complete failure. Umph, the truck runs much better now.
Item #3 is to get the septic tank pumped and is scheduled. We are cognizant and careful of the septic tank but we're not sure when it was pumped last. Septic tanks tend to have back-up problems at the worst times, holidays and week-ends, and when money is short. The goal is to get another many years afterwards.
We are likely to switch #4 and item #5's order. Item #5 is going to take more money and labor than #4 so,were aiming for #5 first. Either which way, all five items on the list will eliminate specific emergency fund emergencies and tide us over for more time than a lot of other things we could spend money on.
Imagine mentioning the clutch as a major repair! #2 was a clutch replacement as it was starting to show definite signs of wear. In the process we ended up with some exhaust system/ holders problems (its a '94 that sat parked in muddy brambles for 9 years) and a pinhole leak was discovered in the radiator.
Thanks
Hi everyone
Hi!
This might not appeal to everyone, but I have started shopping estate sales. I go to the laundry area and garage and buy cleaning products for about a dollar each. These items cost 6 or 7 dollars in the grocery store.
Thanks for sharing!!
This is really pernitinet for right now, thank you.
Question about freezing liquid: do you remove some fluid first to allow for the solidify? or use cartons and un tab them? And what sort of time frame does the thawed milk need to be used up?
Milk has enough headspace to freeze
It's very interesting that I found you because I wanted to teach English online. Do you think losing your online job was a blessing?
Would love a video on that. 😊
Yes, absolutely
Excellent video as usual Jane but the music was rather overpowering especially towards the end, don’t usually have that or at least I’ve never noticed it.
Noted!
You can homesave your own seed for next year and trade seed with others. F
Flowers as well as veg. You'll be surprised at home much seed you can collect,
Great tip
Hi Jane, how do you store your frozen foods? Meaning, do u vacuum seal it and store away in a freezer or do you use freezer bags to store it?
I just freeze it in the bags they came in
I have 8k emergency fund which I'll use part of it up to 4k, for a down-payment for a used car no more than 10k. Will finance and can pay off in 2025 with my RMA distribution. I'm 73.
Sensible saving
I read the comments and understand the way forward. Thank you for the video as it has highlighted that I am going in the right direction. My question is if someone has physical limitations, and wants to do this, what would be some ideas to tackle, and which areas or things to start with as a priority. Thank you for any advice.
Personally physically disabled? Or the home is small?
@@FrugalQueeninFrance physically re mobility. home is normal size for europe standards.
@@reikachan2008 if and when you go to the supermarket, buy one or two items more to build a stock
Easier and effective. Thank you.
I like to coupon for toiletries and cleaning products. I know this isn't an option everywhere in the world.
Well done to you
the weather world wide will lead to food shortages pushing up the price foods that are easy to store are better than money in the bank. also beets inflation a win win
Thanks
Are the quantity limits on paracetamol and ibuprofen due to supply issues? In an attempt to precent misuse or overdose? For some other reason? Just curious
No, just sensible selling of dangerous meds
In Australia they're saying supply issues & same with antibiotics some are completely unavailable
Should we save 1k for emergency or pay off bills first?
My two cents. I think this is a very individual decision - there is no perfect way to do it, so do what works for you and brings you the least amount of stress. After trying to do just one or the other, I decided to work a second job, and did both at once. That seemed to work best for me. I didn't see much progress until I pulled in the extra money. * So, when the next "emergency" came along, I used the set aside Emer. Fund money to pay that off (and started rebuilding it, at once); and was still able to continue killing off the existing debt.
You shouldn't be in debt for bills? You mean such as electricity? Or debt like credit cards? If the latter, keep paying but save an EF first
@@FrugalQueeninFrance i owe on my car plus we just financed a new roof of 20k
@@JennTheFrugalMom if current on your bills, pay the appropriate amount each month and save for your 1K. When you have saved that, use the Dave Ramsay snowball advice to pay off your debtsv
Tucking away 2,000 each month!
Great