Free Credit Report Repair Guide

Every financial advisor and debt reduction expert will say you need an emergency fund. Some like Dave Ramsey say you need $1000 in the bank before you start your debt reduction snowball plan. Others like Liz Pulliman Weston will say $500 is good. I agree with Ramsey in principle but the reality is most can only afford to find an extra $500, so I say anything you can put into the emergency fund will help when “Murphy’s Law” hits.

Take it from me when you don’t have the money is when “Murphy” will show up. So Weston gives a couple of great ideas on how to start up and fund your emergency fund:

• Tax re-fund
• Don’t buy any thing accept for the necessities for a month and put the saved money away
• Sell your stuff. Yard sales, e-bay, sell your stuff for cash!
• Save your change. A penny saved is a penny earned
• Go through your bills and cut out services you don’t need.

We have done all of the above to get more cash into the house hold. The most recently I called my cable company and was able to cut $20 a month or $240 a year. We are looking at the cell phone next.

Again when there is a will there is a way. So make it happen.

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