Sunday, May 22, 2011

Give me, give me, give me!

Give me, give me, give me!

By Keith Bunn Jr.
May 22, 2011

One definition of entitlement is belief that one is deserving of or entitled to certain privileges.”  We’ve all seen it haven’t we? At the very least you’ve seen it on TV or heard it on some kind of radio program. Maybe you’ve even seen that kind of spirit in a family member or friend. It also seems that the younger the person is, the more they think they’re entitled to something. Well I have to tell you, if you’re one of those people, there’s no such thing as a free lunch. Now that’s an old saying, but it’s true. You don’t get something for nothing or at least you shouldn’t. Even in the bible it says, "If any man will not work, neither shall he eat." - 2 Thessalonians 3:10 -.  Cause and effect!
Now I know people are going through hard times these days, but what if I told you that some of their hard times could have been less painful or avoided altogether? It’s true. All they had to do is stash some cash away for emergencies and be on a budget, that’s it. At the very least do that. Because if you think about it, emergencies or unexpected events are not really unexpected? What!? How can you say that!? Well, that’s easy. You’re human! Bad things happen to good people from time to time. Cars break down, someone gets sick and has to go to the hospital, a storm damages your home, someone losses their job, etc…
And if you have debt on top of these emergencies, the pain of those issues increase. I suggest, if you have debt, that you save up $1000.00 and don’t touch it unless an emergency comes your way. This will be the cushion against some of life’s mishaps. Then, start paying down your debt. Once the debt is cleared up, go back to that $1000.00, and build it up to 3 to 6 month’s worth of your household expenses. For some of you that would be about $10,000.00. Now Keith, how can I save $10,000.00? I’m working paycheck to paycheck!?  That’s easy too. That’s where the budget comes into play. At the beginning of each month, you do a new budget. You spend your household income on paper first, so there are no surprises about where your money is going. 
Income – outgo = exactly zero.
            Once your debt has gone down and you continue to do a budget each and every month, you’ll find the money to fund your emergency fund. In fact, you’ll feel like you got a raise! And once that’s done, you won’t have any need for entitlements or government assistances.  

“The ultimate result of shielding men from the effects of folly is to fill the world with fools”        Herbert Spencer –

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