So working on my budget I am realizing a lot about my spending habits. One thing that I had to realize that being lazy about my meal planning and couponing was hurting me and my food was not lasting the month as a result which for means I have to come out my pocket not a good thing. Check out what else I found out and why I will begin paying myself first from now on.
Paying myself first is because I need an emergency fund. I have read and researched and even for a single mom my emergency fund was impressive at one point I need to make it supply me for at least three months with no income. So I am going to start paying myself a decent amount of money. I am going to treat myself like I treat Jesus. If you can give Jesus 10% you need to pay yourself 10%
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This will help me be half way toward my goal by the end of the year with my savings. Having an emergency fund is important for everyone but for a single mom its a MUST have. I am having to work super hard to make sure I get out of this situation.
With the help of earning extra money and changes to my budget. I know this is a situation that if I am in again this time I will have a security blanket so that I will not only have to build back up my emergency fund and not be in debt.
Here are three reasons why you need an emergency fund:
- This will help in case of the unexpected ( getting sick, losing my job, or car repair).
- This will allow you more freedom with your budget.
- This will allow you to save for luxuries once you meet your goal.
Hopefully you will start to put together an emergency fund to make sure you never get into debt.
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