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Do You Have Enough Savings?
What would you do for that sudden car repair or doctor visit? When was the last time you dipped into savings, and why?.
For me, savings is a lifestyle choice
I got into a bit of credit card trouble about 10 years ago when I was fresh out of college, and it took about 7 years to eliminate my credit card debt. Once I saw the balance hit zero I vowed to never let myself have a balance again. During that time I've changed jobs, been laid off 4 times, and picked up a car loan. Today I never carry a balance, and actually wisely on most purchases so I earn rewards. Then at the end of the week I pay off the entire balance. I feel a freedom knowing I'm not working simply to pay for my financial mistakes. I also feel a freedom knowing my car will be paid off in 2 months -- 2 years ahead of schedule.