Do you have an emergency fund??

In these tough times with gas and food prices killing our pockets and wages going nowhere having an Emergency Fund is absolutely necessary. In my industry (child care), summertime is super slow. Either parents are shipping there kids off to family is other places, summer camps or just staying home. Having that security blanket in place when life gets critical makes a lot of sense.


What is an Emergency Fund you ask, well lemme break it down for you:

An emergency fund is cash that is available to you only in times of an emergency. This is not like damn, I gotta get my eye brows waxed for this date money or big ticket item spending. Nope!! This is money just for emergencies in the event you lose your job, get injured and are unable to work, your kid gets sick, etc.

Most experts say you should have at least 3-6 months salary stashed for your emergency funds. I'm working towards that, but you can cap it at $1,000, its up to you. But you don't have to start with much, little by little and consistency is what counts. Start by putting at least $20.00 per check into a savings account, if you don't have one get one ASAP. You're probably saying it may be hard to give up any extra per check into an emergency fund, but trust me its easier than you think. Try it for a few weeks and see how it adds up, and after a little while you'll adjust and you won't even miss the money. Right now mine is chillin at HSBC Direct.

Remember thought, this money is not to be spent on purchases that you can just save for and get or get on one check, this is to be stashed do not spend it.