About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..

20 comments comments closed

  1. An emergency fund is a necessary crutch/support in the very beginning. But it’s important to move beyond an EF and think about bigger wealth creation after a while. Cheers

    • I agree – you can’t build wealth with just an emergency fund. I’ve always enjoyed your posts and even when I may not agree with them, you’ve always gave some food for thought. Keep it coming Sam!

  2. I am going to love reading about these goals and your accomplishments as you go forward. The Wife and I have:
    Vacation Fund (turned off because of next account)
    Baby Fund – just random baby stuff we will need when he is born in 3 weeks or so
    Long Term Savings – Hopefully a massive house down payment in 18 or so months.

    We don’t really partition out our emergency fund. I never felt the need. But I am with Sam Creating Wealth is much easier than getting to your goals with frugality alone.

    • Congrats for your family! Best wishes for the next few weeks.

      I think savings is a component of building net worth, but it’s not the end all, be all. Setting up a savings system can be helpful as people move on to more goals and develop systems for those.

  3. I like your saving goal, nicely planned out.
    Our money is a bit more fluid.
    checking – $5000 for expense
    saving – 3-6 months.
    What ever is left over goes into an investment account. If there is a big bill and the saving runs a bit low, we liquidate some investments and replenish the saving account.

    • Thanks for sharing your family’s plan. How are your investments arranged? How aggressive or conservative are your portfolios? We’re still investing for retirement only now, but we’d like to change that soon as we pay off the student loan and have some more money to invest with.

  4. We have several different goals, but we’ve kept all of our savings in one account up until recently. We got a SmartyPig account for our wedding fund, but now I’m looking into ING (reading the related posts you have) and seeing if that can help us out. I think this will be a good look for us 🙂

    • Congrats for the upcoming wedding. Saving up for it will be a huge stress relief. When I was reviewing it, I found SmartyPig to be a great savings tool. Please let me know what you think about it.

    • Love it! I hope more people check it out – definitely gives us some ideas for our financial system.

  5. We’re going to stretch the age of our cars a bit. My husband’s car is 12 years old now and it’ll be about 14 months before we’re non-mortgage debt free and can start funding a car replacement account.

    • Good for your you Kay Lynn! I really think my Jetta can hold up until I fill up the car replacement fund, but I’m not sure if I’ll be able to avoid a big car repair before then. To be 14 months away from finishing off all your non-mortgage debt is amazing. Keep it up!