The goal of having a Frugal February is not to stop spending altogether, I think the point is to reduce impulse spending and bad shopping habits.
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Many statistics show that people are sorely lacking in financial education. It is the absence of knowledge on how to budget and save money that contributes to the high number of bankruptcies and the even higher number of people who are living paycheck to paycheck.
To make sure your kids don’t suffer this fate, it is a good idea to teach them good money habits from a very young age. This means teaching them, perhaps, the most fundamental lesson of all – how to save.
With pay as you go, you don’t sign contracts. You pay for service up front, and then once that service is used up, you make another payment. At our house, we have two prepaid cell phone plans.
Have you ever thought about moving short term savings to Lending Club versus a savings account or CD? Looking at average returns may have you considering it.
We currently have a 12 month emergency fund, but have considered investing a portion of that money. Would you consider investing some of your emergency fund?