Stage 2: Debt Free
Definition
Free from Bad Debts such as credit cards and car loans. your net worth is no longer negative but is also not to far in the positive.
Goal
Your goal in this stage is to start building reserves of savings to cover 3-6 month of expenses and reach stage 3: Emergency fund.
Core Focus
During this stage the main priority is to track your spending and follow your budget so you can put your spare cash towards your emergency fund and cut up those credit cards.
Resources
Compare Savings Accounts
Compare Savings Accounts
Compare Savings Accounts
When choosing where to store your emergency fund its important to find an account with no fees.
Frollo
Compare Savings Accounts
Compare Savings Accounts
Frollo is a useful money tracking and budgeting app.
Budget Meals
Compare Savings Accounts
Budget Meals
Useful on cutting down that grocery bill and still having good meals.