Nov 1st, 2012 by Jennifer Lynn
Enter below to win a chance at $100 Cash through Paypal or Amazon gift card (winner’s choice) !!
It is essential to make it a priority to establish an emergency fund.
Having an emergency fund shapes wise financial habits and is a huge milestone once achieved. I used to live paycheck to paycheck and every unexpected expense would cripple my bank account balance, sending it hurling into the red. One day I became sick of the constant struggle of trying to survive and made it a priority to break this vicious cycle — now I’ve socked away eight months worth of expenses for when those unforeseen, pesky emergencies crop up.
This was a slow continuous process where I siphoned off a percentage of income every time I received money, in order to place that amount into a specific account marked solely for emergency savings. I faithfully contributed to this account no matter what. (And, well, then basically forgot about it.)
Thanks to diligently socking away between 10-15%, I quickly managed to accumulate a nifty safety cash buffer, which was exhilarating. Let me tell you, having an emergency fund in place brings huge relief and an enormous psychological boost. And once a tidy emergency fund of your own is established, I guarantee you’ll have incredible peace of mind. Then the fun begins! You can begin investing wisely for the future to watch your hard-earned money grow.
Taking control of your financial future by establishing an emergency fund definitely feels empowering!
Now, onto the good stuff!
To celebrate this concept, Broke-Ass Mommy is teaming with other personal finance blogs to help sponsor ‘The Importance of an Emergency Fund’ giveaway, with a prize of $100 Cash through Paypal or Amazon gift card (winner’s choice).
Here is how you may enter for your chance to win:
(If you are a blogger and interested in participating in future Snowflaking financial giveaways for your readers, you may learn more here: Snowflake Project.)
This contest has been submitted to Sweepstakes Plus