Saving for a Month Ahead and Increasing the Emergency Fund!

Hi Friends! Were snowballing our first month ahead category and Im so excited for it. Let's see if we make any progress on the emergency fund challenges!

Welcome to my budgeting channel. I’m a 41 y/o mom of 4, wife, and nurse budgeting our way to becoming debt free! This channel will have videos of our real budget, debt payoffs, cash stuffings, and savings challenges!

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Connect with me:

Stefsonabudget
PO Box 45242
Rio Rancho NM 87174

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Disclaimer: I’m not a financial advisor. This channel showcases our personal journey to financial peace 💛💜

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[myangelsam]

You finished one! 🎉 I know I said this before but I do love this way of getting a month ahead. I’m going to start doing mine. It’s amazing how a little goes a long way. Keep the debt envelope 😊

[adrienneadelsperger]

I absolutely love all of your videos. Thank you for sharing!💜💜💜

[Thefaithfuldash]

Woo hoo … the snowball has begun to roll!!🎉🎉 I would keep funding debt … if you don’t need it, it can be reallocated into something else, like truck or mortgage😊. Great progress on the emergency savings too!💛

[juliespages]

Yay for the start of the snowball! I would keep the debt envelope, you could always readjust the amount when it gets closer to being funded. Have a great day Stef!

[glendaadams]

Good Morning. Always love your month ahead video 🎉🎉🎉🎉

[budgetforwithstephanie]

Hi Stef, great stuffing. I love youre doing month ahead by category. Congrats on finishing wifi.

[lisamarcelle]

I actually have a debt category in another binder ……my month ahead is part of my essentials ….my high priorities….. the I must pay every month. But I do have a buffer envelope ( in my months ahead ) just in case I run into a bigger bill then I anticipated. Like you said electric bills and water bills go up in the summer. I have a buffer which helps me out a lot.

[thekraftbin]

great job. They are getting there. How exciting to see things get fully funded.

[patriciavaughn]

I add in everything I need to pay in a month and a few things I want to pay each month.

[kishareed]

Great video, being a month ahead by doing Snowball what a great idea

[ChatWithNicoleandBudget]

I dont have a debt envelope but I def see your point on having it in there. Congrats on finishing one!! 🎉🎉🎉

[Chatty-KathyBudgets]

💜💜💜 Great video my friend 😊. I would keep the debt envelope for now. You can always pull it later and make an extra debt payment with it 😊💜💜💜

[Theblesseddaisybudgets]

Hi Stef!! I love how you do this with the snowball method! I did not add debt as an envelope for my month ahead. I have weird categories, because that’s all that was offered, and I just haven’t had time to rework it to exactly what I needed! 😂 yay, you get to start doubling up, snowballing next time! 🙌
Yes! Thank goodness Christmas was taken care of! 😊 Your dice seemed to like just the two challenges today! 🤔🤪 😂
Great video. Have a wonderful day my friend!
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[deannaedwards]

My thoughts on the debt envelope in the month ahead- when I fully fund my month ahead if I have debt still then I would add that in and try to get a month ahead. But by the time I fully fund that month ahead I may not have the particular debt. Love this binder. And love that even if it's a small amount you're doing it. I decided to use my hysa monthly interest to fund my month ahead until I can dedicate funds to it consistently

[anabudgets_]

Yay 🎉 so glad that the snow ball is starting. I have a month ahead binder that really needs some attention so this was a great reminder!!❤ I personally don’t have debt in my month ahead. I have my car payment envelope (which is one of my only debt) and my husband pays the mortgage so I don’t have save for that. I think if I had credit card I would keep a debt envelope . I hope this all makes sense lol great stuffing into EF! It’s definitely adding up . Hope other challenges got some love soon 🎉❤

[kayvandermeer]

I would keep the debt envelope. It will be quite some time before the other categories in front will be fully funded. You will either have a lower monthly payment by that time, which means you will be fully funded in that envelope. And if you are debt free, then that amount will be a wonderful snowball into the next category.

[mhaas]

love the month ahead video's! maybe you can recalculate how much you would need for debt in an month ahead everytime you pay a debt off. So that you can not only see the amount grow in the month ahead fund but also see the number you would need to pay the minimums in a worse case scenario decrease. Extra motivation

[bargainCocobudgets]

TY for sharing your blessings XOXO Coco 🦄

[simplylivingsaves]

Watching while I get ready for the day

[haileyreign]

This may be a rambling answer.
I have a debt envelope included in my month ahead even though the only debt I have left are student loans. The interest rates are above my HYSA interest rate, so I don't really bother saving for them.
So I decided to turn it into a debt payoff tracker envelope. I use prop bills to keep track of my debt, and when it goes down by $100, I try to put between $1 - $10 in the other month ahead envelopes as motivation.