.jpg)
« Lessons from Hockey | Home | What’s the Next Step »
Just in Case
By admin | October 21, 2008
Life Happens. We do not know when or what it looks like when it comes but sure enough it does come. You might have heard of Murphy’s Law that anything that can go wrong will go wrong. It’s unexplainable but for whatever reason I have seen it.
If we did not make every effort to plan for when the unexpected happens I would call it foolish. We KNOW its going to happen.
Most times when we have an emergency it is a major life changing event. However, when we have not set ourselves up for success financially to get through these types of events not only do we have a major LIFE crisis, but we also have a MONEY crisis.
This adds tons of unnecessary stress that could have been avoided. The reason why I seem to be harping on the need of an Emergency Fund a lot is for a couple reasons:
1.) It is the 1st step the I advise people to do. So if you wanted to ask me what your first step to financial freedom is I would advise to save up $1,000 (basic) emergency fund or $500 if your income is under $20,000.
2.) The other reason is because I see scripture advising us in this direction. Proverbs 21:20 “In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.”
It is literally foolish to devour all you have. So if you are living paycheck to paycheck and all your money comes in, then all your money goes out, scripture calls this foolish. This is why my first step is to break the chain and develop an emergency fund.
Topics: Saving |
Comments
You must be logged in to post a comment.