TNFG Weekly Chapter 5: All about Family and Financial Accountability

TNFG Weekly is a dose of my favorite nutritional content and nuggets that’s worth indulging. Sharing Financial Wholeness through Mindset, Articles, Spirituality, Health, Food, Fitness, Books, and etc.

And to be honest, it’s kinda like free-styling off of one topic. Read the last four chapters:

Table of Contents

Tackling Finance With Family

The Best Defense is a Great Offense. So the best strategy for your family is prior planning.

How much do you need for an Emergency to prepare your Household for the unexpected?

The size of your emergency savings is dependent on your household’s monthly expenses and whether you are married or have kids.

Three to six months of living expenses may be feasible for someone without children, prepping to start a small business or to insure you against a financial windfall. However, if you think you’ll have a hard time finding a new job if you are laid off, people tend to save from six months or a year’s worth of expenses.

You have to take moment to evaluate your Needs vs your wants. Check your budget and see how can you hold up without pay for two months and start planning from there. Every family needs an emergency plan for fires and for their finances.

My Favorite Videos on the topic

Fast and Furious: It’s Deep | Wisecrack

All about Freedom and Loyalty to the 1st accountability group, your Family. Note: You can choose your family, it’s not necessarily the one you are born with.

My Favorite Finance Articles On the Topic of Family and/or Accountability

Fintech Tools To Help You Master Money Mindfulness In 2021 (Forbes Advisor by Stephanie Walden)

Best Family Budgeting Apps of 2021 (Family Money Adventure by Kate Daugherty)

What is the Best Way to Invest for My Child’s Future? (Marriage, Kids and Money)

My Favorite Big Idea: Financial Accountability

Have a plan: Sit down and discuss your spending plan with your entire family to ensure everyone is on the same page. Talk through your spending plan and assign tasks, even to the kids.
Assess the money coming in and the money going out: It’s important to know exactly what you’re spending.
Pay yourself: Aim to save into an emergency fund so you won’t be forced to use your credit card.