I’ve done a couple of posts here and here about getting out of debt, and hopefully staying out of debt. One of the ways we can stay out of debt is to be prepared for unexpected circumstances.
Now that I’ve gotten my $1,000 emergency fund built up and I’ve been working on getting those bills paid off it’s time to build up that emergency fund so I can handle anything that comes my way.
Ideally this will cover between 3 and 6 months worth of expenses. I should definitely be setting up a separate savings account for this to keep it from tempting me to spend it on something I might want.
You can read more about this approach with Dave Ramsey’s book here.
This post does contain affiliate links which help to support our blog.
As I’ve mentioned before I am working on paying off some of my hospital bills from February. I had been so sick with a kidney infection and had to go to the hospital a couple of times. Needless to say that without insurance these trips got very expensive.
However I am please to report that this week I have finally paid off the final bill that I’ve received. Yay! What a relief!I have also been looking at Dave Ramsey’s Baby Steps and plan to start working on Step #1 which is to save $1,000 for an emergency fund. I did have this saved earlier this year but due to hospital bills and other unforeseen circumstances this has since been depleted.
There are so many different ways to save even when on a budget and if you check out my Pinterest Board Momma: Be Debt Free you can check out some different ideas there. I haven’t made a set plan yet but I’ve put $25.00 back in the pot as start towards that $1,000. I’m hoping to reach this goal by the end of the year.
I’ll be posting a new post about the second step soon!This post does contain affiliate links which help to support our blog.