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Have an Emergency Fund

3. Have an emergency fund. Plan ahead for the unexpected costs that are certain to happen. Expect the unexpected. WEDDING CHAPEL $1,800-$3,500 $274 $600+ 8.8 million Cost of the vet bill to retrieve the random object that Fido swallowed. Cost of a new Number of jobs lost during the recession. Cost of the last-minute transmission for your car. trip to Vegas for your BFF's wedding. Set aside the right amount for your emergency fund. Necessary expenses for one month: Rent/Mortgage (If you own a home, you'll need to budget more for unexpected housing expenses because you can't call your landlord when the toilet overflows.) Auto costs Health insurance (If you don't have health insurance-and you should-you'll need to budget more because even the seasonal flu can cost you more in doctor visits.) (Gas, insurance, car payments) Homeowner's/ Groceries Utilities Renter's insurance (Gas, electricity, water, cable, phone) While most people will tell you that you should have three to six months of emergency savings, start with $1,000-that's just $19 per week for a year. Consider that you could give up a few lattes or eat more meals at home to get here. Automate your emergency savings. Most banks have a fast and easy way to automate a weekly or monthly checking-to-savings transfer that takes less than 10 minutes to set up. That's the same amount of time it takes to eat a bowl of cereal, wash your hair or empty the dishwasher. WHAT CAN YOU DO LESS THAN 10 mins ?????????? LifeTiner. Exploring the essentials of money Sources: // Consumer Reports / Rutgers

Have an Emergency Fund

shared by ColumnFive on Jul 16
This third graphic in the 7 Smart Money Essentials is important because it's so often ignored. Have an emergency fund. Emergency expenses happen, and if you're charging them on a credit card, you can ...


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