Advertisement -- Learn more about ads on this site.

Secrets of Success

< Secrets of Success Main Page    Submit a Secret

Have Both An Emergency Fund And An Annual Bill Fund


Members Were Sparked
This Sparked Me!

While trying to live within your means works you need to also fund out of your cash flow an emergency fund and an annual costs fund. Once those are funded , everyday buffets don't make such an impact from needing a new washer to a long call to the plumber.

The best change we accomplished was when we had an annual living expenses fund. That meant we could live without any money coming in for a year. For me, this fund was actually better than anything.
- Submitted by NJ_HOU 5/12/2010 in Saving Money | 2 Comments
Please note these are member-submitted secrets and are not reviewed by SparkPeople's health experts for accuracy. If you feel a secret is inappropriate, please click Report Inappropriate Secret and our staff will review it.

NJ_HOU's Other Secrets of Success

  • No Other Secrets of Success

Member Comments

WINNIE-POOH 5/13/2010 1:48:00 PM

    Sometimes the Emergency Fund can get depleted before it gets fully funded. I am learning that to not sweat the small stuff and do without until I have to. emoticon
CHRISTURTLE 5/13/2010 6:02:00 AM

    Very important information, otherwise as soon as an unexpected bill arrives or an appliance or the car needs repairing, there goes the budget!

Leave encouragement, a question, or anything else relevant to this. All comments must abide by SparkPeople's Community Guidelines.

Log in to post a comment.

Related Secrets

Diet Resources: roasted barley tea benefits | barley tea caffeine | barley tea nutrition