We are about a week away from closing on our home. This is after a long time stay with my in laws after my husband lost his job. When we bought our first home, we weren't very smart with our money which caused us to fall into debt without any security once he lost his job.
I do not want this to happen again. So, my question is, how much should we really have in savings while still trying to pay down our debt. (We are about $7,000 away not including this home purchase.) We are at a point in our lives where we do have a monthly cushion and most of the is going to paying off our card.
Should be putting some of that in a "rainy day" account instead? My concern is in a few years I know we will have to replace something and I really don't want to fall into the debt trap again!
I know you can't really "plan" for things to break, but has anyone ever created a plan with estimations on when they think it will be time for repairs and then saved accordingly?
Submitted September 08, 2017 at 09:02AM by theanxiousknitter http://ift.tt/2eLBssw
