So if this is the first post you have ever read from me, I am a spender and I got it honestly from one of my parents who will not call out in this post. The interesting thing about it was I always felt guilty because my other parent a saver. Interesting combination right. Yeah, I know, and just for the record, my brother is naturally a saver like the other parent.
I love reading and one of my favorite topics is of course Personal Finance. One of the first Personal Finance books I read was Total Money Makeover. That book helped me learn how to create a budget. If you are looking to increase your personal finance IQ here are a few books you should check out.
Once you say the word budget it seems like the energy in the room disappears, but a budget is not a bad thing it gives you the ability to pay for everything you need and everything you want.
Having a budget helped me pay off over $50K in debt and fund my emergency fund, but it has also allowed me to do things I love like travel.
Emergencies, they happen but they don’t sting as bad when you’re able to pull the money from your savings to cover it. According to Bankrate.com only 40 percent of Americans would pay an unexpected expense of $1,000 from savings, 1/3 would borrow the money by using a credit card, personal loan, or by asking a family friend. If you have to borrow it then that’s what you have to do but here’s the thing about borrowing money you borrow the money, you still have to pay it back so you now have another bill to pay each month.