money

How Much is Enough to Have in Your Checking Account?

Recently, I wrote an article about how much is really enough to have in our savings accounts. After thinking about it, I thought to myself, “How much should we have in our checking accounts?” After talking with some people about it, it’s become apparent to me that many people think it should be similar to the minimuim they keep for their savings account.

If you read my last article, you know that your minimum savings should be equal to all of your living expenses plus necessity expenses for each month that it usually takes you to find another job. This is a bit much to require yourself to have in your checking account as well. If you can do it, more power to you. For the rest of us, the idea revolves around purchasing power.

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How Much is Enough When You’re Saving Money?

Now that tax season is upon us, I’d like to ask you something: If you’re able to, do you currently have a plan for saving money? Whether or not you do, have you ever considered how much you should have in your savings account? There’s the 50/30/20 rule for budgeting as well as the 10% rule for retirement, but we’re not talking about methods for saving money. Instead of thinking how to save it, I want to get you thinking more about how much you should save.

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How to Save Money While Eating Out

I know, it sounds counterintuitive to eat out. Let’s be honest. The most cost-effective way to save money on eating out is to not eat out at all. But this is unrealistic. Most people with some kind of disposable income are bound to eat out at least once per month. If they have more willpower than most, then they may go two or three months without eating out. Since it’s inevitable, let’s go over how to save some money while you do eat out.

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Bargain Buys Everyone Should Avoid

When it comes to saving money, there are many ways people have thought of to stretch their budget. Some use coupons, others use thrift stores, others go to dollar stores. While I, too buy a lot of things from the dollar store, there are many things that you should avoid like the plague. They always seem like a good buy, but trust me, they’re not. There are also a lot of things that are actually a pretty good deal from the dollar store as well.

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