Step 1: Saving for your emergency fund:
This first step of the emergency fund is sticking back $1000 as fast as you can. There are several places to look for “extra” money to save. The Following is a list of practical ideas we implemented in our financial journey:
Think of it like an “emergency mission”. Make it top priority. If you knew you were about to die and the only lifesaving medicine available cost $1000, how fast could you save it? You’d be pretty serious, I suppose.Get serious.
They are the highest depreciating item. Can you sell your car and purchase a cheaper one with the cash?
What if that’s not enough? Sometimes a couple may truly have cut back every variable expense they can and still come up short. Being financially free often requires doing HARD things…
Mike and Debbie were one of those couples who had made some bad financial decisions early in their marriage, later realizing the bondage they were in. Since they had two small children and were resolved that Debbie didn’t need to leave them to enter the work force, they sought some Christian, financial counseling. After examining their income and expenses, the counselor recommended something hard for them to swallow.
The turning point in our despairing situation was when my husband decided to take a part-time job in addition to his regular job in retail. As I mentioned in the beginning, he had previously run a landscaping business, doing well in the summer, but poorly in the winter. He still had a commercial mower we were paying for, so he continued to do lawn service as it became available. In addition to that, he got a job at night delivering pizza. It saved us. I am still in awe of his determination and stamina. He worked 3 to 4 nights a week, averaging around $50 a night. Little by little, we could feel the desperation vanish. And while it was a difficult season to be apart so much, the release of tension made up for the loss of time together. The sheer joy of knowing we would be able to pay all our bills for the month sustained us through the long working hours.



Sometimes though, just “thinking cheaply” can help us cut corners. The secret to these budget meals was in the reduction of meat. I have found that buying packs of frozen beef patties are not only cheaper by the pound than a large pack of ground beef, but the convenience of being able to divide them into small quantities for menus helps me use less. To get really specific, it also saves me the cost and time of dividing the meat into plastic bags for freezing and is much less messy.


