redmarvel
Red, White and Buxom
- Joined
- Jun 19, 2002
- Messages
- 19,903
- Reaction score
- 7
- Points
- 33
My parents were great people, except when it came to money. They didn't know how to budget properly so I had to learn some things on my own, the hard way.
1. Keep at least 2 months worth of expenses in your bank account. (If you lose your job it can take up to 6 weeks to get EI, you'll need to be able to cover rent and food until it kicks in. It's also good for an "emergency fund" when some other sort of disaster strikes)
2. Don't keep a balance on your credit card(s). Get them down to zero as soon as possible. The interest you pay on credit cards is ridiculous and you're usually better off paying bank service charges for "below minimum balance".
1. Keep at least 2 months worth of expenses in your bank account. (If you lose your job it can take up to 6 weeks to get EI, you'll need to be able to cover rent and food until it kicks in. It's also good for an "emergency fund" when some other sort of disaster strikes)
2. Don't keep a balance on your credit card(s). Get them down to zero as soon as possible. The interest you pay on credit cards is ridiculous and you're usually better off paying bank service charges for "below minimum balance".