How to create an emergency fund in 30 days or less
It's impossible to plan for unexpected expenses -- but without money set aside to deal with them, bugets are pretty much doomed. Here's how to find the money to start one.
This post comes from Allison Martin at partner site Credit.com.
So when unexpected situations arise, having an emergency fund (or lack thereof) can make or break your budget, the very mechanism that helps you reach your financial goals.
When payday rolls around, set aside a specified sum of money that you can afford to go without before you begin taking care of other obligations. The easiest way to do this is to deduct an item from your list of variable expenses, such as dining out and gym memberships. Instead, prepare food at home and soak up everything the great outdoors has to offer.
Just think about the calories you are burning and the environmental good you are doing.
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