Saving can be hard for everyone, but you need some sort of an emergency fund. This week on Fox 59, I talked to Ray Cortopassi about my new program that helps you save $465 in just 30 days. Watch the clip below, courtesy of Fox 59 for more information.
Emergency funds are vital to financial wellness. Saving three months worth of expenses will set you up to avoid financial stress. But I realize that saving is hard and if you are working toward paying off debt it can seem impossible. That is why I create a program called $465 in 30 days. Most people would say their isn’t room in their budget for saving money but a closer look reveals that we are spending more than we think. Why is that? Because we are ‘balance spending.’ Balance spending is that quick look at your online bank account before you make a purchase. The incessant checking of our bank balance creates a false sense of what we have available to spend. My new program works with that bad habit in order to create a new, financially healthy habit. Let’s call it ‘balance saving.’
In order to save$465 in 30 days you will need to take about 15 minutes to set up a series of bank transfers from your checking account to your savings account. On day 1 you’ll transfer $1, day 2 will be $2, and so on. By day 30 you will have $465 in your savings account! Sure it isn’t a full emergency fund but it is a great boost to start saving more.
Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.