My dryer is annoying. Every time I put a load of laundry in there, it makes a HORRIBLE sound, sort of like Armageddon is happening inside of my dryer. I let it happen for a little while, but then I started getting worried that it might catch fire. So, I called the repair man and for a couple hundred dollars, I have a normal dryer again. What was the point of that story, you ask? The point is although it was annoying to have to spend money on fixing the dryer, I had the money to fix it because I have an emergency fund. What would you do if you have a financial emergency? Do you have anything saved up for a rainy day? Here are a few tips to start saving:
- Make a goal of how much you want your initial emergency fund to be ($500, $1000, etc.).
- Pay yourself as if you were paying any other bill and stick it in your savings account.
- If you get unexpected money, throw it into your savings account.
- Don’t take your tax return money and buy more crap you don’t need.
- Put your tax return money into your savings account.
Those a just a few little tips. Many of you may know this already, but for those of you who are trying to figure out your finances, I hope this was a little helpful.