![]() Once you’re out of debt, you’ll save up 3–6 months of expenses in case of a bigger emergency, like an unexpected sickness or job loss. If you’re in debt, start by saving a $1,000 starter emergency fund (we call this Baby Step 1)-then pause saving and throw everything else (after your necessary monthly expenses) at crushing that debt. Not only does a padded savings account give you peace of mind, but it also helps you plan for big purchases. Savingĭepending on what Baby Step you’re on, you might need to make saving a priority. Whether you give to your church or your favorite charity or organization, start your month by giving 10% of your income to a specific cause dear to you. Not just because we like to be a little weird (we do!), but because when we give, it takes the focus off of what we’re lacking and shines a light on helping others. And yes, it’s the first thing we budget for each month. Around here, we’re all about being generous.
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