We teach our boys to maintain their cars and home to make them last longer and save money. Without proper care things can break down faster and cost lots of money. This is why this is one of our Financial Freedom rules we teach our boys.
Over the years I have known many people that spent too much on a home they bought or a place they wanted to rent. Then something happens to them like a job loss or going to a new job where they made less money and now, they couldn’t make their payments anymore.
June was nothing like it was last year for sure. So many negative things going on in our world and it is hard to always tell what is true or fake news.
May is over and Logan is officially graduated High School. Next, he is off to the Navy in September. We had a fun Graduation Party for Logan and it was good to see our friends and the boy’s friends.
April is over and one of the worst months of my life. On my Birthday my Mom went to Heaven to be with my Dad. She got coronavirus about 7 days before she lost her battle. She will be deeply missed from our family plus many other people that she touched their lives.
Emergencies funds is an important part of our Financial Freedom plans that we have. We want our Money working for us the best it can and still be able to get to some of it that we may need for Emergencies. Money hit under your mattress doesn’t earn anything or even can be worth less next year because of inflation.
March is over but upcoming months may not be any better. WOW, we are living in a wild time right now. I know our boys should remember this the rest of their lives. March again wasn’t a fun month if you have money in the Stock Market or in Digital Currency. As you know the Coronavirus is growing and it hurting people, businesses and our economy. For us we may not like seeing the stock market numbers but we know we are in for the long haul and we feel the stock market will come back sometime down the road and be even stronger than it was.
Many people do not have enough money in their bank accounts to pay for a $1,000 car repair bill. I have worked with and talked with so many people that had less than $100 in their checking and savings account. Many had no retirement savings either. I have heard that one out of four people have no emergency savings fund.
Once debt free it is important to stay debt free. This is one of the lessons we teach our boys. It is easy to get back into debt if you let yourself once you are debt free. I know this from personal experience. I let myself do this several times until I got tired of the rollercoaster of debt and jumped off.
ebruary wasn’t a fun month if you have money in the Stock Market or in Digital Currency. As you know the news stations have been pounding how bad the Coronavirus is and it has been tanking the Markets. For us we may not like seeing our numbers but we know we are in for the long haul and we feel the stock market will come back sometime down the road and be even stronger than it was.