How Would You Cover a $1,000 Emergency?



Life is full of unexpected headaches. Like your car breaking down on the highway or your water heater flooding your entire basement. Everyone has a few of these things happen each year—or each month, it can seem! 
And this stuff is not cheap.
So how do you pay for it all? While it’s impossible to know which emergencies life will spring on you, you can go ahead and prepare. Because something will happen. Eventually.
Take a lesson from the folks in this video, and get ready for life’s big fixes before they start.



The secret to being ready for your next “unexpected” expense is to go ahead and expect it. We call this Baby Step 1—saving $1,000 in your starter emergency fund. Save it before you pay off debts, before you save for retirement, and before you fund your kids’ college educations.
First means first.
And if you need to use your emergency fund, that’s okay. Just replenish it before you get back to the other stuff. It’s a simple way to make sure you have the money you need, when you need it. That way, you can keep your bills paid and continue moving forward without relying on credit cards to see you through!
Start saving your $1,000 emergency fund with EveryDollar. It’s the best way to budget for everything life throws your way!

 Source: https://www.daveramsey.com/blog/how-to-pay-for-an-emergency?

Comments

Post a Comment

Popular posts from this blog

How Smart People Plan Accordingly For Their Retirement.

Do you know anyone who is considering retirement and do they have a healthy nest egg? How did they achieve their nest egg? They are not financially smart like Warren Buffett or hold the secret solution to retiring comfortably. They did not play the Russian roulette with the stock market or watch it every single day. People who are ready for retirement constantly make contribution towards their investment and saving plans for every month. They are very responsible with their spending and intentional savers in their daily lives. They use the help of professional financial advisor to achieve their goals. The Secret of Saving for Retirement Successfully are listed below: 1). Use your biggest wealth building tool to your financial advantage. 2). They keep their expenses low. 3). They invest 15% of their income. 4).  They do not fund any expenses without referring to their budget. 5).  They meet routinely with their investing professional. 6).  Have a plan and update their plan mon
Read more

The Mistakes We Make everyday About Money.

Here are some of the mistakes we make everyday: It can be cars that we cannot afford, personal loans or house mortgage causing people to file bankruptcy. Here are some money myths that will keep you broke and not compete in today's society. So, why are people still making money mistakes and not changing their ways. Most people are still mismanaging their money and still blaming the society for not setting a law. Please, do not buy into the society popular money myths. Here are some myths that are bad for your money. 1). Debt is a tool. 2). Car payments are a way of life. 3). Loaning money to your family show you care. 4). You cannot go to college without student loans. 5). You can make enough money to catch-up on your retirement. 6). You already understand spending your money, so you do not need a budget. 
Read more

Money and Relationship.

Do you think that most couples argument is about money? The recent survey shows that 63% of couples think that their significant other overspends in many ways, according to TD bank. Money is the leading cause of fight and divorce in North America. Those little fights can cause serious marital problems as time goes on based on the National Council on Family Relations. It is extremely important to figure out how to argue with your significant other in a productive way. In addition, to cultivate a solid marriage and relationship, it is essential for couples to take time to work on their relationship and money. Marriage brings people from different backgrounds and different life experiences together, if they can succeed they need to work on their money and relationship daily. Whether couples realize it or not, money issues can cause havoc in relationship and lead to a fail marriage. The Seven Area of Conflict in Marriages: 1). Separate but equal. 2). Lifestyles. 3). Personality Diff
Read more