Learn more about moneyandinvestments with this collection
Cultivating self-awareness and self-reflection
Prioritizing and setting boundaries for self-care
Practicing mindfulness and presence
Define what your emergency fund is
Your first step is to figure out what counts as a true emergency.
Not all emergencies can be predicted, but many can. Car repairs, medical expenses, higher-than-normal bills. Even having a list of things that you can and cannot spend an emergency fund on can help you stay on track and avoid spending it when you shouldn't.
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Emergency fund
Having an emergency fund is commonly accepted (and good!) advice. When to spend it is addressed less often.
To make it simple to decide when to use it, define what it's for first.
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Define What Your Emergency Fund Is For To Avoid Spending It Carelessly
lifehacker.com
2 ideas
·595 reads
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"Making money is art and working is art and good business is the best art." ~ Andy Warhol
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Create an Emergency Fund
You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.
Common financial emergencies include job loss, natural disasters and car, house and health issues.
Reducing your essentials
Play around with your monthly budget to see where you can reduce your monthly spending:
- You could contact your internet company to get a discount.
- You can clip coupons and use rebate apps to spend less on your monthly groceries.
- You could set aside less for medical ...
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