by: Michael Saunders

One of the best ways that anyone can utilize in order to keep credit from getting worse or the debts from piling up further is to have a savings cushion on which to draw upon when life's unexpected events come to call. Your goal should be to save three to six months of living expenses in a savings account that allows you access to the funds when you need them.

You are probably thinking at this very moment: "I'm having problems paying yesterday's bills - now you want me to save six months' worth of expenses for tomorrow?" Yes, that is exactly what we want you to do. However, and this is a big however, you don't have to do it all at one time. Saving even as little as $10 a month will start the ball rolling and help develop the habit of saving for your future.

Get in the habit of saving some of your income every month. At first it may be very, very little of your income, but if you establish the habit of saving, the amount you're able to save will grow with time, as will your balance. If you open that account, the next time you get a raise, you'll have a place to put that extra money you haven't been used to receiving. For example, have at least half of your raise direct-deposited into your savings account every month.  (continued...)
You Can Still Save Money Even When You Are Already Broke
  Page 2