Be Sure To Establish An Emergency Fund

One of the most important aspects of personal finance to keep in mind is preparation. Whether it be preparation for a new job or retirement, the decision to prepare is absolutely critical in making your dreams come true. Likewise, it is very important for you to prepare for a rainy day by establishing a well-funded emergency fund. Cars break, medical emergencies happen, and I can guarantee that within the foreseeable future, you will incur a charge of several hundred dollars that you were not planning on. At the very least, you should allocate $50 a month towards an emergency fund to get you through a rough patch. Assuming that you're receiving a bi-weekly paycheck, that means you'd have to put aside $25 per paycheck, or about $12.50 per week. That should be doable. If not, you should find a way to make it doable, so that you are prepared to meet financial hardship when it comes without having to resort to extreme measures. Ramit Sethi, the author of the blog I Will Teach You To Be Rich, has recently posted a great, albeit sarcastic, post about Americans who are unable to come up with the necessary cash to meet a financial shortfall. To check out hill article, click here: http://www.iwillteachyoutoberich.com/blog/most-americans-couldnt-come-up-with-2000-if-they-needed-to/ .