Consumer Debt – avoiding the “emergency” trap
Let me just get straight to the point; you need an emergency fund.
If you don’t have one and see no way of saving up for one, then it is time to start changing your priorities around. If you have money for eating out or paying for cable, then you have money for an emergency fund.
The truth is, most folks would just prefer to keep the cable television subscription and put emergencies on the credit card. But if you want to get out of debt, and STAY out of debt, then you need to switch that around. Build an emergency fund and when you’re done, re-subscribe to your cable service.
What is the “emergency trap?” It is justifying debt because it’s an emergency. Before you know it, all of these add up to produce that dreaded bill you get each month.
You can avoid the “emergency trap” altogether by beginning right now with just $10. Just start somewhere.
If the car breaks down tomorrow, wouldn’t it be cool to pull out a wad of cash to pay the repair bill? Wouldn’t it be a relief to drive your car home from the shop knowing you DON’T have pay down a debt next month?
Until you’ve experienced this, you don’t know what you’re missing. Trust me on this one, it is a thrill to pay cash for a car repair!
Get started today! Stick $10 in a jar and label it, “Emergency Fund.” You won’t regret it.
If you don’t have one and see no way of saving up for one, then it is time to start changing your priorities around. If you have money for eating out or paying for cable, then you have money for an emergency fund.
The truth is, most folks would just prefer to keep the cable television subscription and put emergencies on the credit card. But if you want to get out of debt, and STAY out of debt, then you need to switch that around. Build an emergency fund and when you’re done, re-subscribe to your cable service.
What is the “emergency trap?” It is justifying debt because it’s an emergency. Before you know it, all of these add up to produce that dreaded bill you get each month.
You can avoid the “emergency trap” altogether by beginning right now with just $10. Just start somewhere.
If the car breaks down tomorrow, wouldn’t it be cool to pull out a wad of cash to pay the repair bill? Wouldn’t it be a relief to drive your car home from the shop knowing you DON’T have pay down a debt next month?
Until you’ve experienced this, you don’t know what you’re missing. Trust me on this one, it is a thrill to pay cash for a car repair!
Get started today! Stick $10 in a jar and label it, “Emergency Fund.” You won’t regret it.
Labels: Busted-Myths, Saving, Solutions, Tips
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