Life moves fast, it is just that simple. We have things that happen and we make decisions that are not always easy to explain or especially rationalize when looking backward.
Our spending habits are an area of our lives that is telling of where we are personally and emotionally. Over 70% of Americans live paycheck to paycheck, so asking many of you to save 1000 dollars is hard enough but asking you to do it for the purpose of just in case you need it likely seems daunting to many. Most might immediately read this and think “I need a thousand dollars right now to catch up on bills, how am I suppose to save that much and not spend it?” It is a worthy question given the uphill climb many have to make to gain back control of their financial life. But ultimately it serves as more than worth the struggle. Let’s look at some key reasons why you should stop making excuses and save with this target today.
Let’s face it, most “emergencies” are not emergencies at all, they are simply expenses that are unplanned that should be scheduled and noted and planned for. Once you get a budget you easily see the need for unforeseen expenses, no matter how good the planner is, it simply does not change the fact that unless you spend a lot of time thinking and scheduling your bills, and costs you will likely miss a few key things. For example, car registration happens yearly, but almost every budget I have ever seen does not list this as a planned expense. (hint: this is how in-depth you should plan your finances if you want to be in true control)
So many things in life can put you in a tight spot that are actually unplanned. Good examples of things that are not planned are Car wrecks, speeding tickets, flat tires ( and that’s just transportation) But all of them can put you in a bad situation regarding money due to the nature of our dependence on transportation in general. Most people’s lack of acknowledgment of This shows how easy we can fall for the idea that we are better off just not trying to plan it out.
If you plan for the unplanned your life will look and run so much smoother. You won’t be calling friends and family up out of the blue trying to ask for five hundred dollars cuz you need it desperately, and even better yet you won’t be stressing about your next problem that will inevitably come up. You won’t be worried because you will have a small emergency fund.