Capital Budget Strategies, LLC, Austin’s best Financial Coach, wants everyone to create an Emergency Fund.
Most people have a checking and savings account, so designate your savings account as an Emergency Fund and transfer money into the account every pay day. Automate the transfer, so you can set it and forget it!
The goal is to create a cash account totaling $1,000 for a single person or $1,500 for a family. Then if an emergency occurs, you have the funds available and do not have to go deeper into debt by using a credit card or borrowing money. Everyone has emergencies, such as a broken HVAC, a flat tire, medical issues, job layoff, etc.
For example: our Financial Coach was recently walking his dog Jackie, when Jackie found the remains of a large sandwich still wrapped in plastic. (To be precise, it was a “Turkey with Swiss, Bacon and Mayo” for $7.99). After a brief tug-of-war, Jackie swallowed the sandwich, plastic and all. Jackie was rushed to his Vet and the wrapped sandwich was “produced,” as the Vet said, before it entered too far into Jackie’s digestive system.
The result: $361.90 bill and a dog who napped the rest of the day. Good thing for that Emergency Fund!
If you make a decent salary, but need some help getting organized, Capital Budget Strategies, LLC can help! For only $149, our Financial Coach will work with you one-on-one to build an Emergency Fund, create a personalized Budget, review your savings and spending habits, determine your Net Worth and set up a Snowball Debt Repayment Plan, if needed.
All sessions are conducted via Zoom Video Conferencing, so you do not even have to leave home. The session takes about 4 hours and can be done during the day, in the evening or even on the weekend.
End your constant worry and stress about money. Let’s worry more about a guy who eats a Turkey with Swiss, Bacon and Mayo every day!
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