Good Friday morning. On this rainy and overcast Friday the 13th I think we should do a check up of our rainy day fund/emergency fund. Are you saving for that rainy day or emergency? If you are not prepared for the rain a simple appliance problem could send you in to financial ruin or at least zap your budget. Dave Ramsey talks about saving $1,000 in cash and fast as your on hand emergency fund. He also talks about saving three to six months of expenses for your long term emergency fund. If you have an emergency fund in place, your emergencies do not seem so big.
If you have not checked out Dave Ramsey I highly recommend it. Read his information and test out his theories for yourself. I am not a financial guru nor do I claim to be, I have followed most of what Dave Ramsey says to do and we are debt free except our house and saving like crazy for the boys to go to college. I was thrilled that my friend Beth invited me to my first Dave Ramsey class and I was excited when my friend Craig said he would be teaching a class. You do not have to attend a class to learn his system, check out the Dave Ramsey website. I also encourage you to read books from other financial people like Suzy Orman. There are many financial businesses that will counsel you in your financial matters but, do you really want to take advice from someone who has less money in the bank than you? I am not saying that they are all like that but, I find it hard to take financial advice from someone who is in more debt than I am. As Dave says, if you want to be a millionaire you do what millionaires do and millionaires do not take financial advice from broke people. You can find Dave Ramsey's books at the library and at some used book stores.
Here is my disclosure: I am not receiving any perks or kickbacks for this post. I write this because I truly believe in this system and I think we would all be better off out of debt. Imagine the contributions that could be made to charity if we were all out of debt. . .
No comments:
Post a Comment