When head over heals in debt and living paycheck to paycheck, do you really need an emergency fund?
photo by Sam Pullara Recently I read a post about the iPhone over at the Budgets Are Sexy blog by J.Money. He made a case to justify why the $2000 they spend each year is worth having an iPhone; because A) he is inspired more, B) connected more, and C) he takes better [...] Recently, while reading the The Book of Business Wisdom by Peter Krass I came across Sam’s rules for building a successful business. As I read through each one I couldn’t help but reflect on how these same principles could be applied to one’s personal life. What changes a person from a typical spend-as-much-as-you-can-borrow consumer to a live-within-your-means wealth accumulator? Participants are not simply handed money. They have to earn their charitable contribution! An Individual Development Account (IDA) is essentially a special savings account. If the participants meet certain goals and accept specific training and/or one on one support, each dollar they save is matched, sometimes 2 for 1, with your dollars and money contributed by sponsoring organizations. | ||
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