Greg McKinney Mineola Texas

  Emergency, Rainy Day and Sinking Funds – What are They and Why do you Need Them? By: Greg McKinney Mineola Texas Y ou’ve probably heard many terms thrown around when creating and using your budget. An emergency, rainy day, and sinking fund are just a few of the accounts personal finance experts use. What do they mean, and do you need all of them? Keep reading to find out how these funds work and who should consider them. What is an Emergency Fund? The name says it all. An emergency fund covers you in the face of an emergency. But what type of emergency? There are many ways to view an emergency fund, but the most common way is a fund to protect you should you lose your job or be unable to work for any other reason. Say, for example, your company closes unexpectedly. As a result, you suddenly lose your income; how will you cover your bills? A fully funded emergency fund could cover your expenses for three to six months. This gives you time to figure out your next steps ...

  Top 10 personal finance skills you need to master By: Greg McKinney Mineola Texas When it comes to your financial well-being, it not as important how much you earn, but it is very important how you manage your money! Unfortunately, money management is a skill that’s not taught in schools and it’s not something that always comes naturally.   You have to be aware of your spending patterns and make a conscious effort to change them if you want to master your finances. A lack of financial knowledge can lead to making some pretty bad decisions that can have a lasting impact on your life.   So, it's better to be safe than sorry and arm yourself with the proper skills and knowledge to help you make smart financial decisions. In this article, we will be sharing the top 10 personal finance skills you need to master.   It doesn't matter how old you are or how much money you make, these ten skills will help set you on the path to financial success! 1. Budgeting is you...