And they’re off! Our first round of our Financial Peace University classes started out the gates as if someone infused an extra shot or two of espresso in everyone’s cup o’ Joe at Liquid. Over 200 people are immersing themselves over the next 13 weeks in community to get rid of the burdens stuffed into our wallets and pocketbooks. The excitement was definitely felt in the classroom.
"The rich rule over the poor, and the borrower is slave to the lender." Proverbs 22:7 (TNIV)
In order to break free of the bondage that quickly invades all parts of one’s life, Dave Ramsey prescribes the 1st Baby Step to establish a $1000 Emergency Fund…as quickly as possible.
Our Liquidites never cease to amaze as we heard some really creative suggestions on how to find the first $1000 in the next couple of WEEKS before we move onto the rest of the action plan toward Financial Peace.
Here’s this week’s FPU FRIDAY FIVE – a sampling of crowd-sourced tips to raise the money needed for a $1000 Emergency Fund:
1. "Fast" groceries – Most families spend hundreds of dollars a month on food alone. But cutting the trips to the grocery store probably won’t be noticed a bit since most pantries, fridges and freezers are filled with food that could feed the whole gang for over a month at the very least.
2. Walk the dog – With summer just about here and schools letting out, it means family road trips for many. This is the perfect time to post some flyers or ask around if anyone needs dog/pet sitters for dog walking while they are out of town. It’s the perfect P/T extra pocket money gig.
3. LIQUIDate – A $1000 Emergency Fund is probably not that hard to muster up if you just look around the house and realize that there’s tons of stuff that is just screaming to be shipped to their new owners…from eBay. Sell! Sell! Sell!
4. Go GREEN – Yes, it’s true, you pay 16-22% MORE with plastic than with good ol’ greenbacks. As simplistic as it is, paying cash will save you big time money.
5. Hit the bank – But instead of going to the ATM, go make a deposit! Get into the routine of dropping off any money you accumulate each and every week until you reach your goal. Whether it’s $2 or it’s $200 any given week, get it into the bank vault. It’s safer there!
What other tactics are YOU taking to get to your $1000 Emergency Fund goal? Please share your tips – creative or mundane with us in the comment section below!
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