Paying Off Debt and Saving

If you are reading this, I am going to assume you have written out and put a good budget into practice in order to get out of debt. If not, check out our post on budgeting here. Once you have written your budget, you should begin by saving $1000 as quickly as you are able. This is your starter emergency fund. It won’t cover every emergency, but it will save you from a lot, and help keep you from being tempted to go into debt when typical but unexpected life events happen. After you have saved that initial emergency fund, it is time to begin the debt snowball process.