Tag Archives: emergency money

Borrow Smart, Repay Smart: Week 22 – How Do You Define Financial Safety?

No ones likes to consider the worst when it comes to their finances, but it’s good to be prepared for anything. As the old saying goes, “Prepare for the worst, but hope for the best”. At Sierra Pacific Mortgage, it’s … Continue reading

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Borrow Smart, Repay Smart: How to Budget on a Variable Income (And Not Lose Your Mind!)

Dear Borrow Smart Family, We all have a lot of competing financial responsibilities. Sometimes, it can feel like too many – especially if your income varies because of self-employment, a commission-based salary, or reliance on arbitrary bonuses. But have no … Continue reading

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Liquidity versus Home Equity

When learning how to apply financial planning concepts to the world of real estate and mortgages, there can be a bit of a learning curve.  But once grasped, a homeowner can feel extremely empowered and confident in the decisions they … Continue reading

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How much money should I keep in a savings account for emergencies?

Question:                                                     How much money should I keep in a savings account for emergencies? Answer:                                                    Many financial professionals suggest that you put away three to six months’ worth of living expenses for emergencies. We actually call these funds “Cash Reserves,” because … Continue reading

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