-Video of bail bonds guy fixing truck-
If you’ve never had a financial emergency, you’re not living a real life. The video above shows a young guy in Huntsville, Alabama who needed cash quickly. He was young enough so that his mother came to his rescue. Most of us know that when a person becomes older and falls into a position of financial need, no one else will bail him out of his situation. That’s why it’s essential to have at least $1000 in emergency money. Not having this nest egg may cause you to owe more in the long run.
Let’s say you have a medical emergency and the bill is $3,000. You may be able to settle directly with your hospital for a third of the bill. This swift move would help you avoid collections. Maybe while you were driving you hit another car’s bumper. Instead of involving an insurance company, you pay him $300 for the dent or scratch. He gets extra much needed cash and your insurance premiums stay the same.
Your biggest challenge is to build your nest egg by avoiding the temptation to buy needless things. Whether you’re at the fast food place or at the tire shop, your frugal decisions will help you immensely when your financial emergency comes. So be wise and plan for the inevitable.