If you earn more than $20,000, get together $1,000 – and get it fast! You can do that: it is more than achievable. An emergency fund works precisely in this manner – which is why it is the first to your Total Money Makeover. And what better way to do this than with “an old-fashioned Grandma’s rainy-day fund”? After all, if the weather forecast says that it is going to rain in the afternoon, you take your umbrella with you when you leave your house for work in the morning. So, you have to be ready in advance to tackle them when they come.
We tend to describe these events as surprising, but – actually – they are not: sooner or later, they will happen to almost everyone. On the subject of kids – who knows: maybe your grown daughter will divorce her husband and come back to live with you. Even though you might not have planned to have kids just yet, an unexpected pregnancy might happen this very year. Your job might be “downsized, rightsized, reorganized” – or you might just get fired. The event we’re talking about can be absolutely anything. 1: save $1,000 cash as a starter emergency fundĪccording to Money magazine, 78% of Americans will experience a major negative event with severe financial consequences in any given 10-year period. So, get ready to design a sure-fire step-by-step plan to pay off your debts and prepare to secure “a big, fat nest egg for emergencies and retirement.” Ваby step No. “Make them,” he says, “and you’ll retire as a rich, debt-free American with a house of your own and enough money to enjoy every day until the last one.”
This has always been the framework of Dave Ramsey’s fiscal philosophy that he sums up in a simple motto: “we can do anything financially if we do it one little step at a time.” In “Total Money Makeover,” he presents his readers with seven such steps – baby steps, he calls them. It’s the other way around when you focus on a single task and do it with vigor to completion then, and only then, you should move to the next step. When you are hasty or ambitious, or you simply try to do everything at once, progress can be very slow or nonexistent. The tortoise beat the hare in that famous fable because it knew this age-old wisdom better than its fearsome rival: small, steady steps work much better than haphazard jumping. There’s only one way to eat an elephant: one bite at a time.
0 kommentar(er)
