Debt Free-The Emergency Fund
By Bryon ZirkerAs part of your debt reduction plan it is imperitive that
an emergency fund be put in place. You would not believe
the peace of mind that can come from this simple strategy.
We all know about Murphy's law right? If the emergancy
fund is in place specific laws of money are activated and
Murphy hits the road.
Having this emergency fund in place will stop those
unexpected emergencies from being put on credit and
halting the slide into further debt.
So how much of an emergency fund is needed? A good start
would be to get to $1000.00 as soon as possible. After this
try to get three to six months of your gross income into this
fund.
By fund I mean just an easy access, seperate bank account
that will not be touched. If this strategy is put in place it
changes the way you feel and gives you a sense of forward
motion toward your goal of becoming debt free.
I used this tactic in my debt reduction plan and the personal
satisfaction that an emergency would be taken care of
without adding any debt was well worth the sacrifice to get it
in place.
Start right now today, open the account and get some peace
of mind going. Move one more step toward financial
independence.
"Get Debt Free! Do it now!"
posted by Bryon Zirker @ 9:38 AM
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