Let’s be honest, who wants a rainy day? Can I be
even more honest? Whether you want it or not, it’s going to happen. Sure you
can try staying in your house or apartment and avoid every situation that could
lead to a ‘financial emergency’ but I guarantee you, eventually your stove will
break or your jeans will rip. One way or another, we all will find ourselves in
that moment where we need cash and we “need it now” (as the commercials like to
say).
So the question becomes, what do you do when there
is an emergency? You can sell stuff, borrow money, do odd jobs, but the No.1
thing you could do is to borrow the money from yourself – use your emergency
fund!!
I cannot stress the importance of an emergency fund.
Ideally they say you should have at least 6 months of income saved. But for
most of us, that seems like a tall order! So, realistically, aim to save around
$1,000. This doesn’t happen over night of course, it is slow and steady
savings. If you can only put away $10 away a paycheck than do it! (I guarantee
you spend that much at least on things like McDonalds stops or Target sales!) That
is $10 that is going to be available to you when the rainy day comes. By having
that extra money, no matter what amount, you will help reduce stress and fill
more in control of your life and your expenses.
There are so many creative ways to save money, what
are some of the ways you save and why?
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