Also, see our First Coast Living segment on Women & Money for more Saving Tips (click here).
Money Tip #3
You can trick yourself into building an emergency fund by having an “emergency jar.” Cut a sheet of paper into small pieces. On each piece write an emergency expenditure that might occur in the course of your daily life. Examples might be: two new tires ($200), plumber fixes a leak ($130), son’s class trip to NY ($225), owe $75 on a medical bill, etc. On the first of each month, pick an emergency expenditure from the jar and pretend you really do have to pay it that month. Figure out how you can reduce your daily spending habits so you will be able to put that amount into an emergency savings account that month. Your emergency fund will grow. So, when there really is an emergency, you’ll have the money to pay for it without being stressed or going into debt. (from Inspired Savings by Syble Solomon)
Jacksonville Saves is a social marketing effort of Duval County Extension, Real $ense Prosperity Campaign, Bank On Jacksonville, Jacksonville Public Library, and Family Foundations in cooperation with the Consumer Federation of America. Visit www.americasaves.org to sign up to be a Saver. You may choose to get the American Saver Newsletter, eWealth Coach information, or inspirational text messages to help you on your journey. There are also many helpful articles on the site. If you want to attend free local workshops, visit http://jpl.coj.net/financiallyfit/ for topics, locations, and times.
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