Thursday, January 29, 2009

Planning for the unexpected

I find so many people that live payday to payday and they are so far in debt that if anything happened they could lose everything. One of my employees got in a situation that was so bad, he was living paycheck to paycheck and then his car broke down and he had no money to pay for repairs. He couldn't even apply for any of the Faxless Payday Loans, because he already had some that were outstanding. It's so scary to see people get in that situation, but in this economy it's almost as hard to not get in that situation. I have been there and I myself find it hard to save, but I am trying to save at least $100 a pay period in the event that something unexpected comes along. I know that in a couple of months I am going to need new tires and I want to be ready so that I can afford to buy them without having to get a loan myself. After buying the house in February of last year, I was tapped out and when my A/C broke I had to buy money from my parents to buy a new one. It taught me a lesson that I needed to plan for the unexpected. What about you, have you tried to plan for the unexpected? What steps did you take?

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