Are You Ready for The Rain?
Joseph Feibel – January 16, 2018
Do you have an emergency aka rainy day fund? I don’t count having a credit card as an emergency fund. We all need to have some cash in case of unexpected events such as an unexpected car repair, medical expense, or loss of employment. Living paycheck to paycheck sucks but it is an unfortunate reality for a lot of us. I’ve read different things with respect to how many months of living expenses you should have saved up: three, six, nine months, more. Do you have even one month’s living expenses saved up? How can you make more money or spend less money in order to do this? Can you cut back on eating out, cut the cable, shop at discount stores? What would you do today if the transmission your car went up and you needed to replace it?
What can you do starting today to change your financial lifestyle to be sure you are prepared for a cloudy day?
Share your ideas.