Making 6-Figures, but still do not have an Emergency Savings?
Emergencies are inevitable! Your car breaks down and you find out you need a new alternator. Your child falls off his/her bike and you have to rush them to the emergency room for a potential broken arm. A family member becomes ill and you have to fly out of town to check on them.
Emergencies will happen, but according to a Forbes article, 63% of us do not plan for it. Only 37% of Americans have $500 to $1,000 in their savings for the aforementioned emergencies. The remaining 63% have to borrow the needed funds from family or friends, put it on a credit card or get the money from one of those payday loan places.
[featured-image]
Why aren’t Americans saving money when many have household salaries reaching over and beyond the six-figure mark? The answer… the more we make, the more we spend.
When we get that promotion, we now have to live up to the “new title” and upgrade our clothes, our car, our house and our overall lifestyle.
Or when we have the extra money in our account, we feel compelled to spend it.
Yes, we should enjoy our money, have nice things while enjoying the fruits of our labor. We just need to make sure the “nice things” do not have us and we are storing some fruit for the dry seasons. We must always prepare for a Rainy Day, because trust me, the rain will come.
So how can you quickly save $1,000? Follow these steps.
