How to Build an Emergency Fund on a Tight Budget

emergency-fundsIf you had a $500 emergency, would you be able to cover the bill? If you answered no, you’re not alone. In fact, the average American couldn’t afford a sudden $500 bill.

What is the solution? An emergency fund.

But here’s the catch: If you’re rich, you probably don’t need an emergency fund, and if you’re not, creating one can be tough. Here’s how to set aside money for a rainy day, even if you’re on a budget.

The vast majority of Americans are probably able to save $1 a day without much financial hardship. It might not seem like much, but even this simple step leaves you with $365 by the end of the year. If you frequently use cash, adding your daily change to the mix can easily put you at $1.50 a day, or $547.5 a year. Create your own personal tip jar and add a little bit each day. Here are some additional tips for building an emergency fund on a tight budget.  read more…

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Money Skills: The Power of Grit, Failure, and Practice

The following is a guest post from Elsie Brown. Elsie is a college student and phlebotomist who writes about frugality and personal finance at her blog, Gundo Money. Check it out! If you don’t know me personally I’m a professional blood sucker. I work at a...

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Options When You Can’t Afford Your Student Loan Payments

Student loans are no joke. In the United States, student debt is growing at a rate of over $2,000 per second. A YouTube viewer asked me to dig into federal student loan repayment options, so in this video, I do just that. Here are a few things I discuss. What Happens...

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I was a nerdy kid. In school, I genuinely enjoyed pretty much every subject–except for history. History seemed so old, unrelatable and, well, boring. I could not get into it. Then, one summer, my parents and I visited my dad’s family in Indiana. On the...

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