We Are Wealthy

Emergency funds are probably the most important thing you can have available. An emergency must be created after a budget since one must know how much money is left over for saving after all spending is known. Emergency funds are important for financial security, because they give you money to fall back on in times of need. Think how many times in the past year you have needed some money for some sort of emergency. Medical bills, flat tire on your car, pet was ill, and many more emergency money situations are happening frequently enough that this fund is a necessity. As we already covered, a budget should be completed first. Next, we need to get started on the emergency fund. Before spending your money on going out to dinner or buying a big screen TV with the money you have left over each month, get started putting as much as you can into this fund. A good rule of thumb is to save at least three to six months of living expenses. Medical bills are at an all time high, and you would need...