Happy Healthy Families

It is still January. There is still time to get your money saving goals and budget planned for the new year. Dave Ramsey is a well-known financial advisor who has promoted the benefits of back to basic savings He has very effective strategies for getting your finances back on track, and put you back in charge of your money (instead of the nasty way money has of controlling us!)

Save 5-10% of your income weekly until you obtain $1,000.00 - This is the Emergency Fund. This is used for emergency breakdowns: the car, the fridge, bathroom ceiling leaks, TV. goes out, that unexpected bill that must be paid NOW.  And then replenish the account back to the $1,000.00 as soon as possible.

 Save 5-10% of your income weekly until you obtain 3 months of savings for layoff or cash flow lost. This sits in the bank until needed, don't touch it.  Disability Income doesn't kick in unto 30 days after the disability occurred. Workmen's Compensation that employer's are required to pay doesn't kick in immediately either. Unemployment doesn't kick in for 4-6 weeks after you are unemployed. So this is very realistic and a blessing if one day the unexpected happens and you are out of a job.

Invest in Mutual Fund

Charitable Giving...

Ramsey also suggests that you use the "envelope" method of spending money on food each week. Set a certain amount aside in an envelope and that is all you use for the week. No credit or debit cards. Just the cash you have put in the envelope.

 Use cash for large purchases instead of credit cards. Cash gives you a negotiating edge as well. Ramsey also suggests not being afraid to walk out if a salesman asks for more than the cash you have in your hand.

He also advises people to be careful with coupons. Only use them on products you were going to use anyway-- don't buy something  just because you have a coupon for it.