Real Life On A Budget

3 Things That Everyone Needs to Save For

The new year is still on everyone’s minds, so let’s talk about some financial basics to implement in 2017!


  • Juventa

    It may take YEARS to build up 3-6 mos. Emergency Fund. What if we need a car sooner? We’ve always driven beaters, but currently don’t have a plan to save up for a new car as our money is allocated elsewhere. Can we do both at the same time if we already have our $1,000 set aside? What do you recommend? Percentages? Plus, retirement may take even longer to get to if we have to do purchases AND emergency fund at the same time. I read “The Richest Man in Babylon” and was so inspired I’ve started setting aside 10% towards savings, but right now it is all going towards Emergency Fund. We are at the point we need to either take a loan from our 401K or get a car loan as our car is on its last leg, literally, but I really don’t want to have to do either. It’s not even worth selling. Maybe scrap metal? Thoughts? There are many big purchases we keep putting off but I’m afraid that if I don’t start saving for those now, my kids will be grown and gone before we are able to make any memories which I’m not really okay with. How do you find the balance or is it really possible to do it in order?