Saving for a Rainy Day

You heard it before, but I will try to give you an Oregon-based outlook on the phrase, "Pay Yourself First."

Has anyone looked outside lately? It is raining. That could be literal or figurative depending on your individual situation.

The thing I remember about growing up was hanging out inside on really rainy days and watching old movies with my family. Of course, that was after all the household chores were done. It was relaxing, not worrying about getting wet or stomping through the mud. I still love to watch old movies with my family. And I do it having done the PYF thing for years and knowing I can have peace of mind knowing that I have an emergency savings account to help if the roof or the ceiling in the garage springs a leak or a family member leaves the car's sunroof open for several days of rain.

To me having that money set aside is critical. It was not easy to accumulate the savings, but it was worth it. I started with a little bit of money each payday. Thankfully money grows, just like my kids, but not as fast.

I look forward to sharing thoughts like this and others regarding establishing and maintaining financial wellness….feel free to respond here on the Money Mom's blog at Mom Magazine…….

1 comment for “Saving for a Rainy Day”

  1. Posted Thursday, May 14, 2009 at 10:07:49 AM

    I have been trying to teach my boys this...when they recieve money through gifts and/or chores, they know they must save half before they can spend the other half. I also want to have them give a portion to charity, but we haven't got that far in the spending/saving plan. :)

    Another way I have tried to teach my boys about being financially fit is that I always use a cash basis system when I pay for items, especially in front of my boys. Several years ago, my son, who was 4 at the time, wanted to go get a hot chocolate drink at Dutch Bros. I told him "sure" and he replied, "but do you have cash to buy it, Mom?" It totally made my day to know he realized you needed CASH and not a credit/debit card to purchase the drink!

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