Have You Saved Enough for a Rainy Day? [POLL]
I have to admit it. I am a lousy saver. Especially when I am confronted with the knowledge that you should have 6 months of expenses set back for emergencies.
You know, the rent, the car payment, utilities, food. All of those things that you just can't live without in case you or your spouse should lose a job.
According to Bankrate, a financial website, one in three Americans do not have enough savings in their Emergency stash to survive in the event of a life changing event. However, they do offer some strategies to build your emergency fund:
- Autopilot saving and bill pay
- After paying off debt, keep paying yourself
- Enforce 24-hour rule on impulse buys
- Leave the credit cards at home
- Plan ahead, budget for fun
- Make things 'interest'-ing
- Learn to save short-term splurges
- Reward yourself
- Remove the temptation
- Treat it like a friend
- Keep them separated
- Enjoy compounding for a change
- Treat it like taxes
Tell us how much you have in your emergency stash? Take our poll: