Takin' It To The Limit
Are your credit cards maxed out? Have you spent friviously only to find yourself broke until payday? Albert Einstein once said “The definition of insanity is doing the same thing over and over again and expecting different results”. Yet, people continue to ride that roller coaster of debt and never seem to be able to stop the ride long enough to get off. What is it that compels an individual to spend with little or no consideration of the consequences? Today's economy has resulted in millions of people losing their jobs. It's many of those same individuals who didn't plan for a layoff and consequently has resulted in financial ruin for many households.
I've long been a fan of saving for emergency situations. Whether it be for minor repairs to your vehicle or replacing an old washing machine or a job loss, it's imperative you have some sort of cushion to fall back on. If you don't start preparing today for those future unexpected expenses, you'll wish you would have if and when that time comes. It's always a matter of when and not if so do what you can to prepare yourself.
Here's a link to an article I wrote recently about saving for emergencies.
How to Save For Your Emergency Fund
