Broadcast Date: February 4, 2021

InTENtionals for Saving an Emergency Fund

Yes, normally our InTENtionals are top TEN lists. However, our Intentional Living Financial Contributor, Parkey Thompson, has SEVEN ideas on how to intentionally save for an emergency fund, and we’re not even sure how to pronounce InSEVENtionals! Since saving for an emergency fund is easier said than done, hopefully this list will help you get the wheels turning!

  1. Truly define an emergency!
  2. CUT, CUT and then CUT some more – an emergency fund is crucial to personal financial management and the elimination/avoidance of debt
    • Eating Out!, Cable, More internet capacity than needed, etc
    • What could you live without if your income was gone for a season?
  3. Get more income – overtime – focus the extra income specifically and only on the emergency fund
  4. Get a second job – focus the extra income specifically and only on the emergency fund
  5. Sell stuff! We have, typically, more stuff that we know and need. Sell and every dollar to the emergency fund
  6. Focus ONLY on the emergency fund – suspend things like retirement contributions, extra to debt, etc.
  7. Modify your tax withholdings – reduce the amount withheld – properly, do away with any big tax refunds and get more on your paycheck

Did you find this list helpful? Feel free to share it with others who might benefit!

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What is Intentional Living?

il logoAt Intentional Living, we have a passion to help people live intentionally in the five essential areas of life: Faith, Relationships, Health, Finances and Work. We’re motivated by our God-given mission, vision and message.

  • Mission
    Family Life Communications is a Biblical, Christ-centered communications ministry dedicated to igniting transformation by affirming faith, inspiring hope and equipping each person into healthy relationships and growth in Christ.
  • Vision
    To see individuals, families, churches and nations of the world transformed – as evidenced by individuals living an intentional life in Christ.

 

Note: If you need counseling for yourself or your marriage but you don’t know who to call, you might try the referral services of Focus on the Family (800-232-6459) or the American Association of Christian Counselors (800-526-8673).

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