Emergency fund Archives - The Outlier Model

Your Ultimate Guide to Starting a Baby Emergency Fund

starting an emergency fund, baby emergency fund, how to build an emergency fund

Chonce Maddox / May 25th, 2016 / No Comments

According to a recent poll, two-thirds of Americans don’t have at least $1,000 saved up for an emergency. While that’s scary enough to think about, what’s even worse is that families who earn six figure salaries still claim they can’t manage to save up $1,000 in an emergency fund. This tells me that this lack of saving is not just due to an income problem, it’s more likely a mindset problem...

Posted in: Uncategorized Tagged with: emergency expenses, Emergency fund, extra expenses, save more money, saving, saving stats

Financial Benefits of Living Off One Income

financial benefits, living off one income, financial advice

Chonce Maddox / May 11th, 2016 / 3 Comments

When you combine finances with your significant other, it’s easy to start inflating your lifestyle if you are under the impression that you will have a higher household income. However, I challenge you to go the financially savvy route and try living off of only one person’s income. A family who exercises the habit of living off one income and saving the other is the perfect way to get ahead on...

Posted in: Money Tagged with: Emergency fund, living off one income, paying off debt, relationships and money, saving

Financial Goals: 2013

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CF / January 7th, 2013 / 35 Comments

The start of a new year is a natural point in time to embark on new goals and to review the achievements of the past year. Last week, Brian and I talked a bit about our net worth. We’re pretty happy with the numbers on paper, but how did we do in terms of achieving the goals we set back in early 2012? Photo Credit: Images_of_Money via flickr CF’s Goals Emergency Fund: $2000...

Posted in: Money Tagged with: Emergency fund, financial goals, goal setting, investments, lump sum mortgage payment, net worth, personal finance, personal savings rate, reduce your mortgage, RRSP, saving money, TFSA contribution

Updates: October 28 – November 3

Brian / November 3rd, 2012 / 12 Comments

This week, I’ve been struck by the realization of how incremental effort and change can add up to a big result. For the past two years, I’ve had ongoing issues with my right knee and have never put in the effort to address the issue. I went to physio for a bit, but never kept up my exercises. I’ve done yoga, but never more than once a week at the most. Considering my Mom is a physiotherapist,...

Posted in: Weekly Updates Tagged with: big result, cost of halloween, Emergency fund, exercise routine, mortgage free, personal improvement, philosophy, saving money, small changes, starting an emergency fund