I’m in the boring stage on my road to financial freedom. The bad debt is paid off and I’ve started the long process of bulking up my emergency fund. Yesterday, as I was talking to my sister I was reminded why having an emergency fund is so important. My sister is two years younger than me. She has a husband, four kids, and operates a home daycare. Like millions of others, her household operates from paycheck to paycheck with no savings. She gets the bulk of her pay from DHS and this week they made a booboo and did not give her the correct amount of money. I’m not sure what she was supposed to get but she only received $17.
I found out about her situation because my mom was complaining because my sisters was coming to my mom’s house for food. My mom survives off $600 per month from social security. I can’t imagine owning a daycare and not having enough money to buy food for the kids. I can’t imagine not having enough money to pay for gas. Even when I was poor and in school I had credit cards to pay for food and gas if I needed it. But she has bad credit and no chance for a credit card.
I talked to her about it and she told me she was scared. She had filled out pay day loans but no one would loan her any money because of her credit. Since I hadn’t paid my tithes from my IncomeTaxRefund, I gave her that money. She was happy. I was happy. We’ve had the budget and emergency fund talk before but of course something always happens where she didn’t do what she was supposed to do. I’ve been there. I think this was her wake up call. To help her on her way to financial freedom, I’m going to the book store to buy Dave Ramsey’s Financial Peace University. I haven’t read it but I’ve heard good things about it. It uses biblical principles and she’s very religious so maybe that will help her relate money to the Bible. Talking to her has made me even more motivated to bulk up my Efund.
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