Step Three...Save $1,000 Quick

In Dave Rasmey's "Seven Baby Steps" Step Number One is to Save $1,000 Fast: Walk Before You Run. 

Some of you might be saying I already have a savings account and have $1,000 or more in it today. Congrats if you do! You are already a head of most people today. Because a shocking stat is that "49% of Americans could cover less than one month's expenses if they lost their income." I think that statement is just plain sad but it's the truth and you can either be an "average" person or not. I'm picking not to be average. 

Now you might be saying I won't lose my job so why do I need savings. I think that statement you just made might have been one of the stupidest things I have heard. Of course no one plans to lose their job but just look back at the last ten years. And if that is not enough for you then listen to what Money magazine has to say - "78% of us will have a major negative event in a given ten-year period of time." Y'all know I'm a positive person so I'm not trying to rain on anyone's parade but it's gonna rain at sometime and you need to be ready. 

So what if you are a person that has never saved a dollar in their life or thinks there is no way I can save $1,000 because that will take forever. I'll first say you're wrong you can do and it won't take forever. You are just gonna have to be committed and creative. Once you commit to saving $1,000 and make it a proiority it will become easier as you will have the correct mindset. But how do you make the $1,000 appear? You might have to tighten the budget up a little more to put some money aside each month, maybe you sell some of the items just laying around the house, maybe you pick up a side job for a little while, and maybe you come up with some other creative ideas. It will take some elbow grease but I promise you it will be worth it. I mean what better feeling is there then to know if something happens you have some money set aside ready to help. And if you just said if something happens I'll just reach for my credit card to pay for it - slap yourself and hard. 

Some of you might be asking what do I do if I already have savings and more than $1,000 in my account. In a later post we will talk more about saving at a professional level and having 3-6 months of living expenses ready at all times. 

Good luck to everyone saving for the first time. I know you can do and just think about the peace of mind you will have when you have a small emergency fund. 

Here's to being financially fit!!

Rustie J