Don’t let unexpected expenses sink you financially. These three fast tips will help you stare down danger and allow you to whip out your wallet to cover any eventuality.
1. Emergency Money Kit Tool #1: Your Savings Account
Savings accounts are the first, most important tool in your emergency arsenal. They are the financial equivalent of having a Colt 45 in one hand and a sure-fire stain remover in the other. Whatever mess you need to take care of your savings account will be there for you, waiting patiently until the time is right.
Go, right now and fund your account with any amount that you have available. If you’ve got a dollar, put a dollar in, if you got twenty dollars, sock it away. Make it a game and try to beat your previous deposits by at least a dollar each time you put money in. When you hit $200, give yourself a reward.
2. Emergency Money Kit Tool #2: Your Expense Calendar
****Consider this your own “Little Black Financial Book” or, “The Quick and Dirty Guide to Getting What You Want.” Your financial calendar is devoted to each bill that you have to pay, the dates they are due, and the amount you owe. Write down your credit card due dates, phone bill, mortgage payments, car payments, birthdays, oil changes and everything else. You will never pay a late fee again. Put a sticker on your calendar for each item that you pay, and when you get ten stickers, do something very nice for yourself.
Don’t forget; hide your calendar well – far away from prying eyes. It’s your top secret weapon. Oh, and those old late fees? Call and have them removed. Nearly every business will do this – but not unless you ask!
3. Emergency Money Kit Tool #3: The Windfall Parachute
Windfall cash is money that you didn’t expect to get; whether it’s a winning lottery ticket, unplanned overtime, or finding a dollar on the street. Make a pact with yourself that you will save at least 50% of any windfall cash that you come across.
Use the other 50% to have fun, pay bills or purchase something you really want. Even 007 wouldn’t jump out of a plane without a parachute. (Well, not on purpose!) Windfalls are just that – free parachutes to safety. You can skydive as often as you like without worrying about a hard landing and walk away to tell the tale!