With this ongoing pandemic and uncertainty seems always to be around the corner we take the time to ask are you prepared for an emergency God forbid it happens. Here are 3 steps we did to provide some stability if we had to face no income being generated for a season or two.
1. Fill your cabinets
One simple measure of preparing for uncertainty is to simply store food. For most you’ll find that filling your cabinets with food will provide you with meals for a few months. Yes every state have food pantries but we’ve seen during the great depression and pandemic there were location that were strapped for receiving food. Do not rely on others when God is giving you an opportunity to do for yourself (1 Timothy 5:8).
2. Build A budget with A saving plan
If you don’t have one you need to start building a budget
For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?
A budget is your spending plan. It helps you to realistically Weight your income to expenses and account for what you will do with your money. It helps you to align you goals with dollars and cents and see if what your earning adds up to what you want to do in life which should include a saving plan.
Dave Ramsey’s recommends a tier emergency fund.
It was is very helpful for my family gaining financial freedom and covering for rainy days if/ when they come. If your budget is not helping you to prepare for an emergency fund short term or long term its time to revise your budget or increase your earning.
3. Increase your income
In my post title “5 businesses you can start with no skills” I gave several business opportunities you can start with no degree or trained skill needed. If you have the time and limited fund It’s definitely recommended you get a second job or create business income through direct and passive income opportunities to increase your savings and build up capital for investing what securing a nest egg. Right now USA is the bursting with so many opportunities to make a living you just need to adapt and seek (Matthew 7:7-8)
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