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.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
The Consumer Financial Protection Bureau's complaint database highlights the worst problems people have with collectors.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'