An Emergency Savings should be set aside for expenses that truly constitute an emergency. Do you plan an emergency? No! So, you shouldn’t plan to spend your emergency fund either. When you are desperate, and you need the ability to pay for things that affect life, limb, or eyesight then you know that you can withdraw from your emergency fund.
Pay Yourself First: How and Why
A common expression among Personal Finance experts is to, ‘Pay Yourself First.’ But what does that mean? After all if you could pay yourself anything why would you ever stop? Would you decide to pay anyone else first if given the choice?
How to Save $1,000,000
Whatever the case may be, the ability to actually save one million dollars is really quite achievable if approached methodically. We will use these steps to illustrate what it takes: