You should plan for unexpected financial situations as soon as possible. A good way of doing that is by establishing a savings account. Most financial experts recommend having three to six months of basic expenses set aside. A basic savings account is a good place for your emergency fund. Here are the basics of what a savings account is all about..
Remember the days before debit cards? We actually used to carry cash around in our wallets. Well that and the couple of credit cards that were strictly for emergencies. Nowadays we are so dependent on just swiping those debit cards everywhere we go. It’s fast, convinient and costly. For people on a budget it’s easy to loose track of expenses and find yourself with less money than expected in the end. So the rule of thumb is carry cash for your everday expenses and leave the debit card at home or atleast in the very back of your wallet.
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