Original Article
I am not the most financially sound person in the world. One thing I do know – is just when things seem to be going well something unexpected always seems to happen where money is suddenly needed.
I make decent money and typically have “disposable” income to pick up a little of “this” or a little of “that“. Typically go out to eat once a week, and pick up some preparedness supplies. Kids needs clothes, car taxes need to be paid, prescriptions need to be picked up, etc.
This may be a preparedness blog – but as the title says – “Thoughts on survival and the world today“. Well, many people today live from paycheck to paycheck. Many people also constantly complain about being broke but the reality is they just spend money on frivolousness things. With the economy today and the future uncertain – we all need to take finances more seriously. If you already are – congrats as you are one for the few who do.
Experts generally recommend starting an Emergency Fund for those “just in case” moments. An Emergency Fund consists of a sum of money sitting in a bank account or other secure location which is to be accessed when some type of emergency comes up. Now – here is where I have to put a preparedness-spin on this topic. Depending upon the emergency which requires your extra money - having it sitting in a bank might not be the best location for it. If there is some type of power outage where “cash is king” – a debit card or check may not be acceptable forms of payment from many vendors. Options? How about a fire resistant lock box at home – possibly bolted to the floor? Being able to get to cash at anytime may be important depending on what transpires.
My point with this post is if you do not have an Emergency Fund – start one. Set a goal – maybe $500. Stop renting movies, don’t go out to lunch so often, sell some stuff on eBay -whatever – just start saving. Once you reach your first goal – set another. Many financial experts suggest having 6 months worth of expenses put back. That sounds impossible I know – but start small.
Take care all -
Rourke
I make decent money and typically have “disposable” income to pick up a little of “this” or a little of “that“. Typically go out to eat once a week, and pick up some preparedness supplies. Kids needs clothes, car taxes need to be paid, prescriptions need to be picked up, etc.
This may be a preparedness blog – but as the title says – “Thoughts on survival and the world today“. Well, many people today live from paycheck to paycheck. Many people also constantly complain about being broke but the reality is they just spend money on frivolousness things. With the economy today and the future uncertain – we all need to take finances more seriously. If you already are – congrats as you are one for the few who do.
Experts generally recommend starting an Emergency Fund for those “just in case” moments. An Emergency Fund consists of a sum of money sitting in a bank account or other secure location which is to be accessed when some type of emergency comes up. Now – here is where I have to put a preparedness-spin on this topic. Depending upon the emergency which requires your extra money - having it sitting in a bank might not be the best location for it. If there is some type of power outage where “cash is king” – a debit card or check may not be acceptable forms of payment from many vendors. Options? How about a fire resistant lock box at home – possibly bolted to the floor? Being able to get to cash at anytime may be important depending on what transpires.
My point with this post is if you do not have an Emergency Fund – start one. Set a goal – maybe $500. Stop renting movies, don’t go out to lunch so often, sell some stuff on eBay -whatever – just start saving. Once you reach your first goal – set another. Many financial experts suggest having 6 months worth of expenses put back. That sounds impossible I know – but start small.
Take care all -
Rourke
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