tag:blogger.com,1999:blog-4774342367380347371.post68379181973442491..comments2023-10-23T08:39:05.941-05:00Comments on Savvy Frugality: The Debt SnowballUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4774342367380347371.post-19622493635892425092007-09-14T22:26:00.000-05:002007-09-14T22:26:00.000-05:00That's a good point. I am still working on saving...That's a good point. I am still working on saving up that initial $500 to $1,000 in emergency savings. I did have an emergency fund, but my wife suddenly became disabled and well, that was an emergency. We used our emergency fund for living expenses for awhile, but depleted it after a few months.Thttps://www.blogger.com/profile/17006571932872333177noreply@blogger.comtag:blogger.com,1999:blog-4774342367380347371.post-10254416484499600862007-09-13T18:48:00.000-05:002007-09-13T18:48:00.000-05:00I attended Dave Ramsey's Financial Peace Universit...I attended Dave Ramsey's Financial Peace University, tuition for which was a Christmas gift from a friend who also attended. Very worthwhile, although I have not followed it as well as I should.<BR/><BR/>Dave recommends that you FIRST save up $1000 in an emergency fund, so that anything that happens (life does happen!) can be covered without using credit. THEN do the debt snowball. Maybe you already have this emergency fund saved, but for those that don't, the emergency fund is the first thing. Otherwise you will get derailed because things happen all the time - as you know! Dave suggests that you might need to find something to sell to get the $1,000, since it can be very hard to lay your hands on $1,000 if you are in debt anyway!Anonymousnoreply@blogger.com