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Even though I do not get near the credit card offers that I was getting before the economy tanked I still have one too many credit cards that can screw up my debt free life in and instant. I like to think that I am above using that card regardless of how bad I want that thing-a-ma-jig. But then I wake up and that thing-a-ma-jig is hanging in the closet or is in my tackle box. Learning to live on less in order to build our emergency fund up is a mind-set we must get into and stay into at least until we have three to six months of total living expenses set in our emergency only fund.
Get it through that thick skull of yours that this has to be the number one goal of your savings life if you want to be financially free. Always better to have a complete year of living expenses set aside so once you reach that first goal continue to set an amount aside to continue to build that fund. Here are a few steps you should take to get free.
- Figure out what you have coming in and what you have going out. Yes, you will have to track it for an entire month at least to get a good accurate picture of your income and outgo.
- Make a list of your non-negotiable costs such as, Mortgage or rent–you need to keep a roof over your family. Auto payment–eventually you will learn to never have one again. Health and other Continue reading ‘Learning How to Live On Less In Order to Build the Emrgency Fund’ »
