Money experts speak endlessly about the importance of an emergency fund. It is essential to every aspect of financial well being. Within the last couple weeks, I personally have had to utilize my emergency fund proceeds. I’m going to let all the readers here at Broke Finance into a glimpse of my life. My father has been dealing with various health issues over the last year. What compounds matters is the fact that he is hundreds of miles away. The quickest method of travel in order to see him is via plane, which can become costly.
We are Half way thru the first month of the year and it sure has been a blur to this point. The month is coming to a close fast. As promised I wanted to check in with my savings progress for January’s #brokechallenge. If you have not already started to save all your $1 it is not too late to join the party.
Back in August we launched the first ever #Brokechallenge. The purpose was to get readers to boost their savings before summer 17’ came to a close. All it simply entailed was saving each $1 bill you came across throughout the duration of August. If you have not caught on to what I’m getting at, we will be bringing back the #Brokechallenge to start the year 2018.
Some arguments stand the test of time. “What came first, the chicken or the egg?”. “Paper or plastic?”. “Do you prefer cats or dog?”. I know these have zero to do with personal finances but you can add one more argument to the list. The point I’m trying to get across is I believe the question of paying down debt versus building savings will become a long-standing debate.