Morning Cup of Joe – Rainy Day Fund

Rainy Day Fund
Save your money for a rainy day – You’ll have more rainy days than sunny ones, trust me.

One thing we can count on parents for is advice. The unfortunate thing about it is just because they offer up advice doesn’t mean that we’ll automatically accept it; sometimes the greatest lessons are the lessons that we learn on our own. One advice in particular comes from my father who even today continues to encourage me to “save your money.” That is one lesson that I had to learn the hard way.

I’m not quite sure what causes people to spend money frivolously. To buy things that we don’t really need. To accumulate things that adds no real value to our lives. To live beyond our means just to appear as if we have it all together. All the while we’re living paycheck to paycheck hoping that we can scrape enough to pay our mortgage or rent, car note, cell phone and other monthly expenditures. Aside from real property, do we really need all those depreciating assets that we’ve been accumulating?

If you haven’t done so already, it’s critically important that you begin to save a portion of your net income for a rainy day. You never know what tomorrow will bring but if you’re prepared for it then it can certainly soften the blow. Anything can happen at any time without warning and without notice. I’ve lost my job unexpectedly before. I’ve had unexpected car issues that cost thousands of dollars. I know folks who’ve experienced unexpected medical issues. My point is you never know what can happen which is why it’s important that you must prepare.

It’s not just about saving money; it’s really about transforming the way you think about money. I’m getting to a point where I try to focus mostly on my needs than my wants. That’s really the only way I can save money. I realized that most of my money was going towards things that I wanted and really didn’t need. Let’s be honest, how many shoes can one person have? It’s a rhetorical question but most of us are guilty of buying things just because we can with no consideration for the future. That has to change.

There’s no better time to start saving for a rainy day than right now. If you don’t have a rainy day fund, start one today. You never know, it may storm tomorrow.

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Joe Paul
Motivational Thought Leader, Corporate Trainer & Keynote Speaker
Tel. :202.553.7718
Twitter : @JoePaulSpeaks