[st_row id_wrapper=”elm_597d80c0930ca” ][st_column span=”span12″ id_wrapper=”elm_597d80c09307a” ][st_text id_wrapper=”elm_597d80c093024″ ]Are your paychecks spent before you receive it? Is there more month than there is money in your bank account? If so, what do you do when an “emergency” happens?
 In my twenties and early thirties, I felt this way every pay period. Thinking how am I going to get ahead if I continue to live like this. All I knew was this robbing Peter to pay Paul mentality had to stop. As a result, I began to educate myself and throughout this process I learned the many benefits of having an emergency fund.
Preparing for emergencies positioned me to better avoid a financial crisis. Let’s be clear on what an emergency is and is not. An emergency is not seeing the latest pairs of shoes that you have to have or the latest Louis Vuitton purse you can’t live without. I’m talking about the car has broken down and this is the primary form of transportation used to get the family or yourself back and forth to work. Or one of the heating units in your home has failed and it is the middle of winter. You have to call Reliable Heat and Air or your local heating and air serviceman to repair the unit today. Yes, I hear some of you. I have an emergency fund–my credit card. Let’s face it, emergencies will happen at least once a year and how you prepare will determine if you are earning interest or paying interest? What do I mean by that? I’m glad you asked. You earn interest if you save the money in advance or you pay interest by borrowing money or putting it on a credit card. And this is only the beginning of a vicious cycle. With that said, how do you get started? I think $50-$100 a month is a good ballpark to get started. Obviously, this amount is dependent upon the amount of money you make. If you have trouble finding extra money, you may need to check out websites such as couponsavingmom.com or similar sites to learn how to find extra money or make extra money. Want more information of financial freedom? Click Here! logo  [/st_text][/st_column][/st_row]

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